S&P 500 futures were mostly flat as oil prices moved higher and investors prepared for the Federal Reserve’s latest interest rate decision. The quiet move in futures suggested traders were reluctant to make big bets before the central bank’s next policy signal.
The cautious tone followed a weaker session for stocks on Wednesday. Major indexes fell as the rise in oil added another source of pressure for the market, while chip stocks continued to slide and weighed on sentiment.
The Dow was coming off its third straight winning day, but the earlier momentum faded as investors turned their attention back to monetary policy and inflation-related risks. Higher energy prices can complicate the outlook, especially when markets are already focused on the path of interest rates.
With the Fed decision ahead, traders appeared to be balancing hopes for stability against concerns about rising costs and renewed weakness in key parts of the market. The combination of flat futures, stronger oil, and continued chip-stock losses pointed to a market in wait-and-see mode.
