Market players seem cautious amid uncertainty on the U.S.-China trade front. There is no clear indication that both countries will reach an agreement over trade that could stop or reduce the current level of tariffs. The U.S. is due to impose fresh duties on Chinese goods by Sunday.
The Wall Street Journal reported Tuesday that the U.S. plans to delay these additional tariffs on Beijing as both sides try to work out an agreement.
The FED will issue a statement on its latest monetary policy decisions at 2:00 p.m. ET. Fed Chairman Jerome Powell will then address the press at 2:30 p.m. ET. In its October meeting, the Fed decided to cut the Fed Funds Rate to a range of 1.5% to 1.75%.