While the Fed is widely expected to cut interest rates for a third straight time, some investors are girding for a “hawkish cut” in which Fed Chair Jerome Powell suggests the central bank will pause at upcoming meetings.
A hawkish posture “would be disappointing to the markets,” said Spartan Capital’s Peter Cardillo.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 47,593.14.
The broad-based S&P 500 was flat at 6,842.85, while the tech-rich Nasdaq Composite Index slipped 0.1 percent to 23,557.73.
Among individual companies, GE Vernova shot up more than 15 percent after lifting its financial forecast and its share repurchase authorization.
Oracle dipped 0.4 percent ahead of its earnings report later Wednesday. The company’s prior earnings statement showed a huge increase in artificial intelligence-related work.
