S&P 500 ETF (SPY) is trading 0.27% down as investors maintain a cautious stance ahead of the FOMC interest rate decision at 2:00 PM ET and the subsequent press conference by Chair Powell.

  • The Federal Reserve is widely expected to hold interest rates steady at 3.50–3.75%, while the Dow has slipped 0.77% in anticipation of the announcement.
  • Tech stocks are under pressure following reports of OpenAI missing growth targets, though energy sector gains are providing a partial offset.
  • Oil prices are trending higher driven by the UAE's exit from OPEC and escalating geopolitical tensions in the Middle East.