Wall Street ticked lower early today ahead of the latest Federal Reserve policy decision and a slew of new inflation data, according to the Associated Press. Futures for the S&P 500 fell less than 0.1%, while futures for the Dow Jones Industrial Average edged down 0.1% before the bell.
The Fed’s latest interest rate policy decision comes after the U.S. central bank wraps up its two-day meeting on Wednesday. Most expect the Fed to leave its benchmark rate alone again, with inflation remaining sticky despite the high interest rates meant to tame it.
Shares of Southwest Airlines jumped nearly 8% before the bell this morning after the Wall Street Journal reported that activist investor Elliott Investment Management had amassed a $2 billion stake in the airline and planned to push for changes.
In other trading, U.S. benchmark crude oil gained 25 cents to $75.78 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose 29 cents to $79.91 per barrel.
The U.S. dollar rose to 156.94 Japanese yen from 156.83 yen.
