Stock market today: Wall Street drifts ahead of Fed's next meeting on interest rates

NEW YORK — U.S. stocks edged higher as Wall Street makes few big moves in advance of the Federal Reserve’s next meeting on interest rates. The S&P 500 closed virtually unchanged Monday. The Dow inched up 6 points, and the Nasdaq composite was also little changed. Stocks have been see-sawing since early August on uncertainty about whether the Fed is finally done with its drastic hikes to interest rates. Traders almost universally expect it to keep rates steady this week.

One of the first the market will fixate on is how high officials at the Fed see its main interest rate rising this year. Traders are betting on a roughly 40% chance the Fed will raise rates again in either November or December, according to data from CME Group. A barrel of U.S. crude rose 71 cents to $91.48 Monday. That’s up from less than $70 in July. Brent crude, the international standard, rose 0.5% to $94.43 per barrel.

The two-year Treasury yield, which more closely follows expectations for the Fed, dipped to 5.03% from 5.04% late Friday.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks mixed as Wall Street braces for Fed meeting: Stock market news todayWall Street fixed its focus on an upcoming Federal Reserve meeting where the central bank will issue its next interest rate decision: stock market news today.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street drifts and oil prices climb ahead of Fed meetingNEW YORK (AP) — Wall Street is drifting in the early going, while oil prices keep climbing and raising pressure on inflation. The S&P 500 was little changed in the first few minutes of trading Monday, coming off its second straight losing week.
Source: SooToday - 🏆 8. / 85 Read more »

Wall St subdued as chipmakers, growth stocks drag; Fed rate meet in focusKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »