Fed Decision and Middle East Tensions Keep Wall Street on Edge
Wall Street's main indexes poised for a cautious open amid Federal Reserve's monetary policy announcement and ongoing Israel-Iran conflict. Investors await Fed Chair Jerome Powell's insights on countering inflation risks. Market anticipates steady rates, potential rate cuts by 2025, with geopolitical tensions impacting investor sentiment.
Wall Street's primary indicators were braced for a subdued opening on Wednesday as the market awaited the Federal Reserve's monetary policy announcement amidst escalating tensions in the Israel-Iran conflict.
Investors are keenly observing Fed Chair Jerome Powell's statements to decipher his strategy against the persistent threat of inflation. Despite expectations of unchanged rates, data suggests a possibility of rate reductions by 2025.
Meanwhile, geopolitical tensions also influenced market dynamics, driving apprehensions over potential U.S. military involvements. Oil prices steadied, and sector-specific stocks like stablecoin issuer Circle Internet and drugmaker Scholar Rock showed premarket movements.
(With inputs from agencies.)
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