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Stocks Mixed Ahead of Fed Meeting

Stocks remained mixed on Monday morning as markets braced themselves for the Federal Reserve’s upcoming policy meeting where the central bank will discuss its next interest rate decision. The S&P 500 edged 0.06% higher, while the Dow Jones Industrial Average slipped by 0.03% and the Nasdaq Composite Index declined by 0.07%.

Following the release of economic data that indicated easing inflation and a cooling labor market, investors are expecting the Federal Open Market Committee to keep interest rates steady in the range of 5.25% to 5.5%. The CME FedWatch Tool has priced a 99% probability that the Fed will pause its rate hikes, up from 92% last week.

According to numerous economists, a rise in August consumer prices will not have an impact on the Federal Reserve’s rate decision. Still, this data suggests that interest rates may remain higher for longer without rate cuts being implemented in the near future.

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