Fed Opens Two-Day Meeting With Markets Split on Rate Path

The Federal Reserve begins its two-day policy meeting Tuesday in what traders call one of the hardest decisions to handicap in years. Market bets lean toward a hold when the decision lands Wednesday afternoon, but conviction is thin and some see a hike still on the table.

Stocks opened the session mixed: Dow futures rose about 123 points while Nasdaq-100 futures fell 0.9% as a semiconductor selloff deepened. A fresh read on consumer confidence at 10 a.m. ET adds another data point before the decision.

The Fed verdict caps the busiest stretch of earnings season, with Visa, Boeing, Ford, and PayPal among the household names reporting this week alongside portfolio holdings Coca-Cola, UPS, MGM, and Chevron.