U.S. equities traded mixed as investors braced themselves for the latest monetary policy announcement from the Federal Reserve. - From CNBC
The S&P 500 slipped 0.05 percent, with energy sliding 2 percent to lead decliners.
"It'll be interesting to see how they address inflationary pressures receding," said Quincy Krosby, chief market strategist at Prudential Financial.
"Inflationary expectations, if you look at the surveys, are going lower." "We've got this deflationary backdrop and because the Fed is paying so much attention to the Phillips curve, they may not be paying so much attention to other factors in the economy," said Gary Cloud, fixed income portfolio manager of the Hennessy Equity and Income Fund.
The Dow Jones industrial average rose 13 points, or 0.06 percent, to 21,342, with Home Depot leading advancers and Chevron lagging.
The S&P 500 declined 1 point, or 0.05 percent, to 2,439, with energy leading three sectors lower and consumer staples outperforming.