Futures, Stocks Steady as Fed Meets; Oil Advances

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U.S. equity futures and Treasuries were little changed, stuck in a holding pattern before a policy decision from the Federal Reserve. Oil extended a powerful rally. Contracts on the SP 500 index steadied after the underlying gauge snapped a threeday winning streak amid weakness in technology and real estate. Energy firms led gains in European stocks. The 10year Treasury yield held around 1.5. The dollar was steady versus major peers.

Investors have turned cautious ahead of the Feds policy decision amid speculation officials could give an indication about their timetable for tapering stimulus injections that have driven a market boom. The latest statement is set to include updated projections for interest rates and economic forecasts.

The socalled dot plot is expected to point to an interestrate increase in 2023, while the central bank is unlikely to signal a scaling back of bond purchases until later this year.

Here are some key events to watch this week

The Federal Open Market Committee rate decision comes on Wednesday, with a news conference from Jerome Powell afterU.S. President Joe Biden and Russias Vladimir Putin meet Wednesday in GenevaU.S. Treasury Secretary Janet Yellen testifies before a House panel Thursday on the federal budgetRate decisions come from Switzerland and Norway on ThursdayThe Bank of Japans monetary policy decision is on Friday

These are some of the main moves in markets

Stocks

Futures on the SP 500 Index were little changed at 852 a.m….

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