Stocks Ended Mostly Lower ahead of Fed Decision

U.S. stocks closed mostly lower on Tuesday, the day before the Federal Reserve is scheduled to unveil its latest monetary policy decisions and economic forecasts for 2021. The Dow Jones Industrial Average fell 69.84 points, or 0.26%, to 26,492.21. The S&P 500 was down 3.81 points, or 0.13%, to 2,915.56. The Nasdaq Composite gained 14.22 points, or 0.18%, to 8,007.47.

Prices for U.S. benchmark crude pared much of their earlier gains on Tuesday as President Donald Trump again pressured OPEC to lower oil prices and said the U.S. won’t put up with “horrible” prices much longer. November West Texas Intermediate oil edged up by 3 cents to $72.11 a barrel. November Brent crude climbed 75 cents, or 0.9%, to $81.95 a barrel.

U.S. consumer confidence surged to an 18-year high in September as households grew more upbeat about the labor market. The Conference Board said its consumer confidence index increased to a reading of 138.4 this month from an upwardly revised 134.7 in August.

Activewear maker Nike (NKE) reported quarterly earnings that beat average analyst estimates. The sports apparel powerhouse posted adjusted earnings of 67 cents per share on revenues of $9.95 billion.