NEW YORK (AP) — The U.S. stock market is drifting as Wall Street waits to hear from the Federal Reserve in the afternoon about where it sees interest rates going. The S&P 500 edged up 0.1% early Wednesday, coming off a mixed day where falling tech stocks weighed on the index. The Dow Jones Industrial Average was essentially flat, and the Nasdaq composite rose 0.5%. Stocks involved in the artificial-intelligence business were heading back up on their roller-coaster ride. Treasury yields held relatively steady in the bond market ahead of the Fed's decision. Traders expect it to keep rates steady.
THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below.
Wall Street pointed toward modest gains in premarket trading Wednesday and oil traded below $80 a barrel on optimism that Iran will quickly open the Strait of Hormuz if a tentative deal with the U.S. to end the war is signed Friday.
