Here is your morning snapshot from 10:10 a.m. ET (1410 GMT):
Main US indexes mixed; Nasdaq, S&P 500 higher, Dow dips
Tech leads S&P 500 sector gainers; energy is weakest group
Euro STOXX 600 index up ~0.4%
Dollar up slightly; gold up ~1%; bitcoin slips; US crude down ~2.5%
US 10-year Treasury yield dips to ~4.97%
Mixed economic data and sector moves
Meanwhile, Wednesday's data was a mixed bag. U.S. import prices surged in August amid solid increases in the costs of capital and consumer goods, suggesting inflation could rise further in the coming months.
Still, U.S. retail sales rebounded in August as households stepped up motor vehicle purchases and stocked up for school, reinforcing the economy's resilience despite growing consumer anxiety about high inflation. Retail sales jumped 1.2% last month versus economist expectations for 0.8% after July's revised 0.5% drop, according to the Commerce Department's Census Bureau, which had previously reported a 0.6% drop in July.
However, U.S. homebuilder sentiment dropped to a one-year low in September as rising mortgage rates were dampening demand for housing, a survey showed on Wednesday.
Among the S&P 500's 11 major sectors, most are advancing with technology .SPLRCT leading gains while energy .SPNY is the biggest laggard. On the tech front, chips are driving gains with the PHLX semiconductor index .SOX last up 1.8%. Nvidia NVDA.O, Advanced Micro Devices AMD.O and Intel INTC.O are among the S&P's top boosts.
Markets rise as investors wait for Fed decision
After losing ground in six of the last seven sessions, the S&P 500 .SPX and Nasdaq .IXIC were rising on Wednesday as oil prices fell and bond yields pulled back while investors waited for the Federal Reserve's decision on interest rates later in the day.
While oil futures are still above the $100 mark, U.S. crude is down more than 2% on Wednesday as reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns about supply disruptions.
Traders are pricing in a roughly 93% chance that the Fed will raise interest rates by 25 basis points at 2 p.m. ET (1900 GMT) after the two-day Federal Open Market Committee (FOMC) meeting concludes.
Investors will then monitor a press conference with Fed Chair Kevin Warsh for his views on the economy and clues on future policy decisions.
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