Register now for FREE unlimited access to Reuters.com RegisterUnexpectedly hot August inflation data last week also raised bets on increased rate hikes down the road, with the terminal rate for U.S. fed funds now at 4.46%. It's a lower volume market, which means that folks are probably just sitting tight at this point waiting to see the next step." Focus will also be on new economic projections, due to be published alongside the Fed's policy statement at 2 p.m. Four of the 11 S&P 500 sectors were lower. Tech heavyweights Apple Inc (AAPL.O) and Tesla Inc (TSLA.O) rose more than 1% each to provide the biggest boost to S&P 500 and the Nasdaq.

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