U.S. stocks on Wednesday treaded water, as market participants await one of the most pivotal Federal Reserve monetary policy rate decisions in recent memory. It is all but a given that the central bank will deliver its first interest rate cut since the COVID-19 pandemic four years ago,

Consumer spending was tepid last month but exceeded forecasts. Data from the Census Bureau showed retail sales were up 0.1% in August from the month prior, beating economists' expectations for a 0.2% decline. Slowing automobile sales pressured the headline number, though this was offset by strong online sales.