Investors braced for the Federal Reserve's next interest rate decision and earnings from tech giants Microsoft and Meta.

U.S. stock indexes are drifting on Wednesday after the Federal Reserve decided to keep interest rates where they are, a move that could upset President Donald Trump but was one that Wall Street was widely expecting.

The conclusion of the Federal Reserve’s policy meeting on Wednesday could produce a historic dissent. If so, investors should be prepared to do, well, nothing, according to one Wall Street veteran. The Fed is seen as virtually certain to leave interest rates unchanged despite intense pressure from President Donald Trump and his allies on Chair Jerome Powell to deliver a cut.