NEW YORK — 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. The Dow Jones Industrial Average was just barely higher and the Nasdaq composite was just barely lower.
Investors are bound to focus on the Fed’s meeting. The U.S. central bank raised rates aggressively through 2022 and 2023 in an effort to tame inflation, but it kept interest rate levels at its last meeting. Inflation has generally been easing back to its target of 2%. Ford, General Motors and Stellantis all fell in the premarket as the United Auto Workers strike entered its fourth day.
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