U.S. stock prices were relatively stable over night Tuesday, as investors prepared for Wednesday’s Federal Reserve decision.

Dow futures rose by 15 points S&P 500 futures were flat and Nasdaq 100 futures rose 0.03%.

On TuesdayThe decline in the main averages was further exacerbated due to software sales such as Microsoft Adobe. Dow Jones Industrial Average fell 106 points. The S&P 500 fell 0.75%.

Nasdaq Composite, which is technology-focused, was the relative underperformer. It fell 1.1% as Facebook parent Meta Platforms, Amazon, Apple, NetflixGoogle-parent AlphabetAll are lower.

The November inflation reading, which was higher than expected, also hurt sentiment on Tuesday producer price index showing a year-over-year increase of 9.6%, the fastest pace on record. According to Dow Jones, this was higher than the 9.2% economists expected. This was 0.8% more than the 0.5% forecast.

On Wednesday, the Fed’s two-day policy meeting will be concluded. At 2:30 pm, Powell will speak to the public. ET press conference.

Fed currently faces high levels of inflation for the first time in 39 years. It is expected that the Fed will soon announce an acceleration in its tapering of its bond buying program. This was initiated during the pandemic, to help the economy recover.

The stage is set for the next step. dramatic policy shiftThis will allow for the first increase in interest rates next year.

A CNBC Fed SurveyThe Fed is expected to increase taper speed by $30 billion during its December meeting. This would bring an end to the monthly asset purchases of $120 billion each month, roughly ending March’s annual purchase of $120 billion. According to the survey, the Fed will raise interest rates by three times over the next two year, beginning in June 2022.

Jim Paulsen of Leuthold Group, chief investment strategist, stated that while the chairman may not give an exact time frame for the lifting of the funds rates, he likely will confirm the desire to accelerate the rate increases by some members.

Paulsen stated, “I wouldn’t expect the Fed to speak much that was not already expected by the financial market.” The Fed’s two-day meeting will be over by the end of today, and the press conference is done. Stock market volatility could decrease.

The Fed meeting will be the focal point, but investors also monitor the Covid variant of omicron. World Health Organization Tuesday warnedThis new Covid-19-omicron variety is more popular than any other strain and it is expected to be in all countries.

Retail sales data for November will be released at 8:30 AM. ET on Wednesday. Dow Jones economists polled expect retail sales to rise 0.8% in November compared to October’s 1.7% increase, according the Commerce Department.