Stocks In 'Wait And See Mode' Ahead of Fed Decision

U.S. stocks have been trading on both sides of break-even today, ahead of the Federal Reserve's interest rate decision which is expected this afternoon. Many analysts expect the Fed to lower the Fed Funds rate by another 50 basis points, to 1%. This would be the lowest level since the Eisenhower-era.

Federal Reserve Chairman Ben Bernanke has stated they would do whatever is necessary to resurrect the financial market. With the financial markets still in crisis mode and consumer confidence slipping to all time lows, an interest rate cut of 50 bps could help promote much needed confidence.

The Fed rate decision is expected at 2:15PM ET

At 11:50AM ET the Dow was up 18, the Nasdaq was down 4 and the S&P 500 was down 2.

You May Also Be Interested In

• Amazon launches bond sale seeking at least $25 billion
• Gas prices fall 46 cents from April highs but consumer confidence still hits decade low, missing forecasts
• Barclays Downgrades Universal Health Services (UHS) to Equalweight