US Stocks Indicated to Close Mixed on Fed's Decision to Leave Funds Rate Unchanged

Wednesday, September 16, 2020 3:57 PM | MT Newswires

US stocks were poised to close mixed, with the market indexes struggling to recover from the last-minute slump in anticipation of the Fed's rate decision. The Federal Open Market Committee held the fed funds rate at the zero to 0.25% range, as expected, and will aim to achieve an average inflation rate of 2% over time while reiterating that the economic path will be driven by the course of the COVID-19 pandemic.

The Dow Jones Industrial Average rose 0.2%, to 28,051. The S&P 500 was down 0.4%, to 3,389, and the Nasdaq Composite dropped by 1.1%, to 11,058.

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