Stocks Parked in Neutral Before Fed

Equities are little-changed this morning after a strong close yesterday as investors brace for the Federal Reserve’s announcement at 2 p.m. ET.

Most European indexes are fractionally lower and near their lows of the session. Asian markets were mixed in the overnight session as Japan’s Nikkei gained almost 2 percent but China fell about 1 percent.

The S&P 500 peaked at 1687 on May 22, only to retreat as investors worried the Fed would reduce monetary stimulus measures. It found support earlier this month at its 50-day moving average and has now been muscling higher since. The index climbed steadily yesterday, ending the session up 0.78 percent.

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