On Tuesday, U.S. stocks experienced a slight dip as investors eagerly awaited the outcome of the Federal Reserve's two-day policy meeting, which will conclude tomorrow. The Dow Jones Industrial Average, S&P 500, and the Nasdaq Composite respectively saw minor decreases of 0.2% and 0.4% shortly after the market opened, according to FactSet data.
The central bank is expected to keep its benchmark rate within the targeted range of 5.25% to 5.5%. Investors are closely monitoring for any signals regarding the future direction of the Fed's monetary policy.
In addition to the anticipation surrounding the Federal Reserve's decision, investors also processed new economic data released on Tuesday. The data showed a decline in new home construction in the U.S. during August, potentially influenced by higher mortgage rates. Despite this downturn, there was a noted increase in building permits during the same period, suggesting potential growth in future construction activities.
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