A Fed decision, FedEx earnings and the UAW strike: What to know this week

The Fed is scheduled to meet on Sept. 19 and 20 followed by a press conference with Fed Chair Powell at 2:30 p.m. ET on Wednesday .

Investors expect the FOMC will hold interest rates steady in a benchmark range of 5.25% to 5.5% to see if inflation continues to cool.

FedEx ( FDX ), is expected to report earnings on Wednesday while all eyes will remain on the United Auto Workers strike that began on Friday .

The energy price increases could send earnings projections lower, per Kleintop.

American Airlines , Spirit and Stitch Fix are among the companies with oil as a big cost.

The market is "pricing in clear sailing from here, and it may not be that smooth of a ride".