Stock Market Today: US stocks flat as traders brace for Fed's rate decision

Investing.com-- U.S. stocks closed nearly unchanged on Tuesday despite a stronger-than-expected retail sales report which helped allay fears of a sharp economic slowdown ahead of the Federal Reserve's latest policy-setting meeting.rose 0.1% in August on a monthly basis, better than the expected 0.2% decrease, after having climbed a revised 1.1% the prior month.

Comments from Fed Chair Jerome Powell at the conclusion of the two-day Fed meeting will be studied carefully, as investors seek guidance of the likely extent of the easing cycle that could bring more interest rate cuts in the coming months.) rallied 2.7% after the chipmaker announced plans to spin off its foundry business, and that it will sell off part of its stake in Altera.

By 16:00 ET, the Brent contract climbed 1.5% to $73.85 per barrel, while U.S. crude futures traded 1.6% higher at $70.12 per barrel.

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