Major Averages Posting Modest Losses In Mid-Day Trading

(RTTNews) - After showing a lack of direction early in the session, stocks continue to turn in a lackluster performance in mid-day trading on Wednesday. The major averages have spent most of the session lingering near the unchanged line.

Currently, the major averages are posting modest losses. The Dow is down 24.46 points or 0.1 percent at 27,046.96, the Nasdaq is down 16.02 points or 0.2 percent at 8,260.83 and the S&P 500 is down 3.56 points or 0.1 percent at 3,033.33.

Traders are sticking to the sidelines ahead of the Federal Reserve's highly anticipated monetary policy announcement this afternoon.

The Fed is widely expected to cut interest rates by another quarter point, although traders will pay close attention to the accompanying statement for clues about the outlook for rates.

The central bank is due to announce its latest monetary policy decision at 2 pm ET, followed by Fed Chairman Jerome Powell's post-meeting press conference at 2:30 pm ET.
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