US stocks open stable with Federal Reserve meeting in focus

The US stocks stabilized at the beginning of trading today as market focus shifted towards the meeting of the Federal Reserve, which ends today and the central bank will then decide to set its course on monetary policy.

Market expectations suggest that the central bank will keep the interest rate unchanged at 2.50% although previously hinted that it could be cut.

After the decision, Federal Reserve Chairman, Jerome Powell, will hold a press conference to comment on monetary policy and the conditions of the US economy and perhaps touch upon the global economy.

With signs of slowing global economic growth and the US-China trade war escalating, speculation has been raised that the Fed may cut interest rates, possibly at the July meeting or perhaps on today's meeting.

On terms of trading , Dow Jones rose by 0.1% (33 points) to 26,499 points, and Standard & Poor's stabilized at 2,916 points, while Nasdaq slipped 0.1% (10 points) to 7,943 points.