Traders are likely to remain on the sidelines in the lead-up to the announcement from the Fed, which is scheduled to be released at about
While the Fed is likely to leave interest rates unchanged, the central bank is widely expected to announce another
The impact to the markets is more likely to stem from the language of the accompanying statement as well as any changes to the outlook for the economy and interest rates.
"If members predicted the first rate hike in the middle of 2015 under previous assumptions, what will they think today under new ones? Their credibility is on the line if they ignore that the facts are now different," he added.
Not long after the announcement, Fed Chair
Yellen may be more cautious than during her first post-meeting press conference, when she triggered a sell-off on
Among individual stocks, shares of
On the other hand, shares of
After coming under pressure at the start of trading on Tuesday, stocks moved modestly higher over the course of the trading day. The gains on the day extended the moderate upward move seen in the two previous sessions.
While buying interest was somewhat subdued, the major averages all closed in positive territory. The Dow edged up 27.48 points or 0.2% to 16,808.49, the Nasdaq rose 16.13 points or 0.4% to 4,337.23 and the S&P 500 crept up 4.21 points or 0.2% to 1,941.99.
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