Wall Street hesitant, waiting for the rate decision
Major US equity indices remained indecisive on Monday as investors are getting ready for Wednesday's FOMC decisions. The US Dollar Index also stayed in tight ranges ahead of the critical events of the week.
Forex today: dollar stable and US yields rise
The Dow Jones Industrial Average fell 21.5 points, or 0.1%, to 20,881.48, the S&P 500 added 0.87 points, or 0.04%, to 2,373.47 and the Nasdaq Composite gained 14.06 points, or 0.24%, to 5,875.78.
Oil prices are still finding it difficult to pull away from the three-month lows as the latest report showed that EIA is expecting the U.S. total shale regions oil production for April to increase by 109,000 bpd to 4.962 mln bpd (vs. 78,000 bpd rise in March). After falling to 508.66 level, the S&P 500 energy index .SPNY finished the day with minor gains at 510.37.
On the corporate side, chips giant Intel announced that it would acquire driverless technology firm Mobileye for $15.3 billion.
Markets are pricing an 88.6% probability of a rate hike on Wednesday according to the CME Group FedWatch Tool. Investors will still be looking for signals about the pace of future hikes.
Headlines from the U.S. session
- US: February CPI to show continue upward trend - Wells Fargo
- EIA: U.S. total shale regions oil production for April seen up 109,000 bpd - LiveSquawk
- Trump-Merkel meeting postponed to Friday
- With US inflation as a concern, CPI in focus - Nomura
- WTI struggling to extend gains above $48