Wall Street Holds Its Breath for Federal Reserve's Rate Decision

As the clock ticks down to the United States Federal Reserve's crucial decision on key interest rates, major Wall Street stock markets displayed a flat trend during premarket trading. Expectations are set for the rates to remain steady within the 4.25%-4.50% range. Investors are also keenly awaiting the Mortgage Bankers Association's upcoming report on US mortgage applications for the previous week.

At 4:25 am ET, the Dow Jones, the Nasdaq 100, and the S&P 500 all showed little to no movement, indicating a market in cautious anticipation. Meanwhile, the euro experienced a slight dip, losing 0.37% against the dollar to trade at $1.09044 at 4:26 am ET.