The S&P 500 Index ($SPX) (SPY) this morning is up +0.41%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.64%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.32%.
The broader market is higher this afternoon. The markets are focused on the 2-day FOMC meeting that begins today. The markets expect the Fed to leave its 5.25%-5.50% federal funds target range unchanged, and they will look to newly updated Fed projections (dot-plot) for the outlook for interest rate cuts. The markets will also scour comments from Fed Chair Powell’s press conference after Wednesday's conclusion of the FOMC meeting for the future direction of Fed policy.
