S&P 500 Futures Little Changed Ahead of Warsh Fed Decision

Markets await the Federal Reserve's first policy decision under Chair Kevin Warsh on June 17, with S&P 500 futures little changed and rates widely expected to hold at 3.50%-3.75%. The week opened with the S&P 500 closing at 7,431.46 after a 0.5% gain on June 15, followed by a sharp 1.65% rally on June 16 driven by the U.S.-Iran truce that sent oil below $80. Tuesday saw mixed trading as the Dow hit a record while the S&P 500 slipped 0.6%, with traders now assigning a 42% probability of a rate hike by year-end amid resilient retail sales and sticky inflation.