"Fed Meeting Today: Interest Rates Set to Soar to 22-Year High Amid Inflation Fight"

The Federal Open Market Committee (FOMC) is set to announce its interest-rate decision today at 2 p.m. ET, followed by a press conference by Fed Chair Jerome Powell at 2:30 p.m. Stocks opened slightly lower, with the S&P 500 and Nasdaq dipping, while the Dow remained steady. U.S. bonds gained, and the 10-year Treasury yield fell slightly. Oil prices retreated after recent gains, as traders anticipate the Fed signaling the need for further measures to control inflation, potentially impacting energy demand. Global stock indexes showed mixed performance, with the Stoxx Europe 600 falling 0.9%, Hong Kong's Hang Seng Index closing down 0.4%, and Japan's Nikkei 225 remaining unchanged. New home sales figures for June are also expected to be released at 10 a.m. ET.