Tech stocks are regaining some ground ahead of the Federal Reserve's first interest-rate decision under new Chairman Kevin Warsh.
The three major indexes are mixed, with the Nasdaq composite in focus after Tuesday's stumble. The S&P tech sector is up about 0.6% around midday. After climbing early in the session, Elon Musk's SpaceX is slipping. It's still by far the most actively traded stock on the Nasdaq in dollar terms, though.
Brent crude oil futures are gaining but remain around $80 a barrel, their lowest level since the first few days of the Iran war. Still, assuming a deal to stop the fighting holds, oil exports and production will take months to recover, the International Energy Agency said today.
The Fed is expected to keep rates steady when it announces its decision at 2 p.m. ET. Conversation at the central bank, however, is turning toward rate hikes rather than cuts, as my colleague Nick Timiraos reports.
- By Joe Wallace
