The market is marking time as the Street gets ready for the Fed’s Summary of Economic Projections (SEP) which will be released at 2pm ET. Investors are waiting for confirmation that the Fed is done with the hiking cycle, although the markets have already priced a soft-landing cutting cycle.

There is a 98% probability that the Fed will hold rates steady today.

Old school safe havens are higher while materials hold the biggest decline.

There is not a lot of conviction from sellers and buyers this afternoon.