Stock Market Update

[BRIEFING.COM] The stock market opened to mixed action. The Dow Jones Industrial Average (+0.1%) trades up while the S&P 500 (-0.2%) and Nasdaq Composite (-0.5%) trade lower, clipped by losses in the mega cap space.

This price action also has the heavily-weighted S&P 500 information technology sector trading 1.0% lower. It's the worst performing sector by a decent margin, followed by consumer discretionary (-0.2%).

The mixed action is in front of FOMC decision at 2:00 ET and Fed Chair Powell press conference at 2:30 ET.

Treasury yields are slightly lower in front of the committee announcement, which is expected to hold the target range for the fed funds rate steady at 4.25-4.50%. The 10-yr yield is down three basis points to 4.52%.