U.S. stocks opened mixed Tuesday as investors waited for the Federal Open Market Committee’s September meeting. At 9:51 a.m. Eastern time, the Dow Jones Industrial Average was down 0.14% at 52,018.01, while the S&P 500 was up 0.34% at 7,611.62 and the Nasdaq Composite was up 0.7% at 26,162.82.
Market participants are widely expecting the Federal Reserve to raise its benchmark interest rate by 0.25 percentage point. Futures trading in the CME FedWatch tool was pricing in a 92.7% chance of that move.
With the rate increase largely seen as a done deal, traders are watching for clues on the path of future rates and the inflation outlook. They are also focusing on the Fed chairman’s news conference for any signal on policy direction.
By sector, energy and financials were weaker, while real estate and communications were stronger. Intel shares rose after Reuters reported that the company is in talks with SK hynix on a possible plan to produce memory chips in the United States for the first time.
