U.S. stocks struggled for direction Wednesday as investors awaited a key decision by the Federal Reserve that could determine whether Wall Street is likely to get a highly anticipated interest rate cut this year.

The Dow Jones Industrial Average rose 22 points to 26,487 while the S&P 500 index slid less than a point to 2,917 and the Nasdaq Composite Index fell 2 points to 7,951.

The Dow and the S&P 500 are both about 1% off their record highs.

The Fed is expected to discuss if and when to lower the benchmark interest rates, which stand at a range between 2.25% and 2.50%, to combat the impact of a protracted clash between the Trump administration and China over tariffs, as well as signs of sluggish economic growth creeping into the U.S. economy.

Source: Marketwatch