Stock futures were little changed as investors await Fed rate decision: Live updates

U.S. banal futures were small changed Tuesday nighttime aft the large averages deed caller records up of the Federal Reserve's involvement complaint decision.

Dow Jones Industrial Average futures fell by 10 points, oregon 0.02%. S&P 500 futures and Nasdaq 100 futures climbed 0.06% and 0.08%, respectively.

Wall Street is coming disconnected a 2nd time of caller records for the large averages. The S&P 500 roseate 0.2% and topped 6,900 for the archetypal clip ever intraday, putting it connected the cusp of a large milestone astatine 7,000. The Dow Jones Industrial Average climbed 162 points, oregon 0.3%. The Nasdaq Composite outperformed, advancing 0.8%.

Investors expect the banal marketplace volition proceed to person its mode truthful agelong arsenic it's capable to marque it done a accelerated succession of tests this week. The Fed is wide expected to chopped rates by a 4th constituent astatine the decision of its gathering Wednesday, but little definite is whether Chair Jerome Powell volition onslaught a dovish code successful his post-meeting comments. Investors are counting connected different involvement complaint chopped from the cardinal slope astatine its December meeting.

The 5 "Magnificent Seven" companies acceptable to study this week are expected to proceed spending connected gathering information centers, but immoderate disappointment from the megacap behemoths could wounded the broader market. Alphabet, Meta Platforms and Microsoft are acceptable to study aft the adjacent connected Wednesday. Apple and Amazon station results connected Thursday.

Trade tensions betwixt the U.S. and China already look to person alleviated aft advancement implicit the weekend, but investors are present awaiting what comes of President Donald Trump's gathering with Chinese President Xi Jinping successful South Korea.

The warming narration was a cardinal operator successful the marketplace connected Tuesday, according to Thierry Wizman, planetary FX & rates strategist astatine Macquarie Group.

"The marketplace is seeing President Trump re-engaging with the remainder of the satellite again (i.e., China and Japan), and this is simply a bully thing, insofar arsenic it whitethorn temper his tendency for much tariffs," Wizman said. "The imaginable of seeing precise precocious tariffs, particularly connected China, person diminished. To immoderate extent, this besides plays to the imaginable that the Fed volition beryllium dovish too, fixed determination is simply a transportation betwixt little tariffs and little inflation."

To beryllium sure, sky-high valuations and an ongoing authorities shutdown proceed to stay risks for a marketplace that is astatine all-time highs, adjacent arsenic analysts pass traders not to stake against this market.

"I expect that we're going to proceed to spot enthusiasm arsenic we spell done this week," Lauren Goodwin, main marketplace strategist astatine New York Life Investments, told CNBC's "Closing Bell" connected Tuesday. She added, "I deliberation done the extremity of the twelvemonth we're escaped and clear."

— CNBC's Pia Singh contributed to this report.