Wall Street holds steady ahead of Fed's decision as oil prices and bond yields ease
NEW YORK — Wall Street is holding steady Wednesday as it waits to hear from the Federal Reserve , which traders expect will announce a hike to interest rates later in the day to help get the nation’s high inflation under control. The S&P 500 rose 0.4 percent was on track for just its second gain in the last eight days. The Dow Jones Industrial Average was down 26 points, or 0.1 percent, as of 12:31 p.m. Eastern time, and the Nasdaq composite was 0.7 percent higher. Stocks got help from some easing for oil prices and pressure from the bond market. The price for a barrel of Brent crude, the international standard, fell 3.1 percent to $105.39. Oil had gotten to nearly $110 early this week on worries that the war with Iran will continue to clog the global flow of oil. That helped send the yield on the 10-year Treasury, which is the centerpiece of the bond market and dictates where rates for mortgages and other loans go, down to 4.96 percent from 5.00 percent late Tuesday. Earlier this week was the first time since 2023 that the 10-year yield topped 5 percent. Even with Wednesday’s easi
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