Stocks Opened Slightly Lower ahead of Fed Meeting

U.S. stocks opened slightly lower on Tuesday as investors looked ahead to the outcome of the Fed meeting. The Dow Jones Industrial Average lately fell 67.35 points, or 0.25%, to 27,009.47. The S&P 500 declined 2.33 points, or 0.08%, to 2,995.63. The Nasdaq Composite was up 0.91 points, or 0.01%, to 8,154.45.

Oil futures on Tuesday edged back registering one of the sharpest rallies on record on Monday following weekend attacks on major crude facilities in Saudi Arabia. West Texas Intermediate crude for October delivery was down 89 cents, or 1.4%, at $62.01 a barrel. November Brent crude edged back 84 cents, or 1.2%, to $68.18 a barrel.

Market participants largely expect central bankers will deliver a second 25 basis point cut to benchmark interest rates at the conclusion of the September meetings on Wednesday.