U.S. equity futures were little changed Tuesday evening, with the Dow Jones futures up 56 points (0.1%), ahead of the Federal Reserve’s pivotal interest rate decision expected on Wednesday. Markets are pricing in a 92% probability of a quarter-point hike, with the current target rate range at 3.5% to 3.75%. The White House is pressuring the Fed to hold rates steady, arguing inflation is moving in the right direction, with CPI at 3.4% in August down from a recent high of 4.2% in May. Crude oil prices surged, with WTI rising 4.4% to $105.83 per barrel, while Treasury yields continued climbing, with the 10-year hovering just above 5%.
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