Stocks mixed as Wall Street braces for Fed meeting: Stock market news today

The Fed is scheduled to meet on Tuesday and Wednesday , with the central bank planning to release its latest policy decision on Wednesday at 2:00 p.m. ET .

Investors expect the the the Federal Open Market Committee to hold its benchmark interest rate steady in a range of 5.25%-5.5% . The probability that the Fed will pause its rate hikes next rose to 99% on Monday , up from 92% a week ago .