ET, and Federal Reserve Chair Jerome Powell is scheduled to hold a press conference at 2.30 p.m. (You'll be able to watch it live here .)
The Fed is likely to raise its benchmark policy rate by 0.25 percentage point to a range of 5.25% to 5.5%, a 22-year high.
Investors will watch for clues about whether this is the last hike of the cycle and when policy makers might start cutting rates.
Traders expect that the Fed will signal more future tightening to tame inflation, which could crimp energy demand.
The rise followed a wild late session yesterday fueled by news of a deal with Banc of California.
Persons:
Jerome Powell, You'll, Stocks, Brent
Organizations:
Federal, Fed, Nasdaq, Dow, Treasury, Oil, Traders, Pacific, Boeing
Locations:
U.S, California