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US markets open mixed as investors wait for Fed meeting

July 25, 2022

Via: ABC News

 Stocks were mixed in early trading Monday, as investors braced for a two-day meeting of the Federal Reserve this week where it’s expected the central bank will raise interest rates sharply to combat inflation.

The S&P 500 index was up less than 0.1%, fluctuating between gains and losses, while the Dow Jones Industrial Average was up 0.2%. The technology-heavy Nasdaq Composite was down 0.2%.

On Wednesday, most economists expect the Fed to announce its second 0.75% point increase in its short-term rate in a row, a hefty increase that it hasn’t otherwise implemented since 1994. That will put the Fed’s benchmark rate in a range of 2.25% to 2.5%, the highest since 2018.

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