Dow Jones futures were little changed after Monday's stock market rally ahead of the Federal Reserve's two-day policy meeting. Read More...
Reuters
Wall Street ends choppy session higher with focus firmly on Fed
Wall Street’s main indexes ended a seesaw session higher on Monday, as investors turned their attention to this week’s policy meeting at the Federal Reserve and how aggressively it will hike interest rates. The S&P 500 and the Nasdaq rebounded from logging their worst weekly percentage drop since June on Friday, as markets fully priced in at least a 75 basis point rise in rates at the end of Fed’s Sept. 20-21 policy meeting, with Fed funds futures showing a 15% chance of a whopping 100 bps increase. “This is all about what’s going to happen on Wednesday, and what comes out of the Fed’s hands on Wednesday, so I think people are just going to wait and see until then,” said Josh Markman, partner at Bel Air Investment Advisors.
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