S&P 500 futures mixed ahead of Fed announcement

PARAGRAPH 1 --- What happened: S&P 500 futures are mixed ahead of the Federal Reserve's policy announcement, with the index down -0.15% and Dow Jones up +0.23%. Asian and European markets traded mixed, awaiting U.S. inflation data and the Fed's decision. On Wednesday, markets slipped after the Fed opened the door to a rate hike this year.

PARAGRAPH 2 --- Market impact: The mixed performance reflects investor caution ahead of the Fed's decision, which could impact borrowing costs and corporate earnings. Tech stocks, which led the rally, are underperforming, with the Nasdaq down -0.15%. Energy stocks are also down, with WTI crude prices falling more than 1%. European stocks are mixed, with investors weighing strong tech earnings against potential Fed rate hikes.

PARAGRAPH 3 --- What to watch next: Tomorrow's Consumer Price Index (CPI) data will provide insight into inflation trends, influencing the Fed's decision. The Fed's policy announcement and press conference later today will reveal the central bank's stance on future rate hikes. Additionally, investors will be watching for any changes in the Fed's balance sheet reduction plans.