The three major U.S. stock averages were trading mixed around 1:50 p.m. ET on Wednesday as investors awaited the Federal Reserve’s rate decision.
The S&P 500 was last down 0.1%, while the Nasdaq Composite fell 0.4%. In contrast, the Dow Jones Industrial Average gained about 210 points, or 0.5%, supported by strength in blue-chip names.
In the bond market, yields inched higher ahead of the Fed outcome. The 10-year Treasury yield was last at 4.045%, up nearly 2 basis points, while the 2-year Treasury yield climbed 3 basis points to 3.541%.
Markets are bracing for a widely expected 25 basis point rate cut, though traders will closely analyze the Fed’s “dot plot” and Chair Jerome Powell’s press conference for signals on the path of interest rates into year-end.
