U.S. equities are relatively tame
U.S. equities are relatively tame ahead of the FOMC decision this afternoon following mixed global price action. The Fed should try to keep its options open, while underscoring its pregnant policy pause for now, though markets continue to price out any hikes near term and even a cut ahead. The Dow is 19-points firmer, S&P gained a point and NASDAQ is 6-points higher ahead of the opening clang. This followed a mostly positive session in Asia after a 0.2% gain in Japan's N-225 and marginal gain in the China CSI after all the contradictory trade deal reports yesterday. Europe meanwhile has given back some recent gains, with the Euro Stoxx 50 -0.6% and German DAX -1.2%. In earnings news, UBS had its worst quarter ever, FedEx sank 6.7% after slashing its profit outlook, but General Mills rallied 5.5% after boosting sales and full-year guidance. The VIX equity volatility index is up 0.5% near 13.63, while the dollar index is marginally firmer near 96.40 and WTI crude 1% lower near $58.45 bbl.