The federal funds rate will remain 3.5% to 3.75%. While the market still expects two rate cuts late this year, the Fed is likely to tread cautiously given the economic backdrop.

Chip shares led early and the S&P 500 is knocking on the door of 7,000. However, the dollar keeps sinking, oil rose, and investors await today's Fed meeting and mega-cap results.

After a relatively quiet start to the calendar today, things get crowded starting with the Fed's 2 p.m. rate decision and then three mega-cap earnings reports after the close.

Chip shares led early and the S&P 500 is knocking on the door of 7,000. However, the dollar keeps sinking, oil rose, and investors await today's Fed meeting and mega-cap results.

Federal Reserve Chair Jerome Powell will deliver remarks following the latest Federal Open Market Committee (FOMC) meeting. Rates are expected to be unchanged based on the CME FedWatch tool. The focus will be on the press conference as investors listen for guidance on future policy decisions and commentary on how current events may impact future interest rate decisions.

A Fed meeting starts today with little chance seen of a rate move. Meanwhile, 90 S&P 500 companies line up to report this week including Boeing and General Motors this morning.

After a wild week of geopolitical volatility, investors track mega-cap earnings and a Fed meeting in days ahead, with no rate move seen. Four of the Magnificent 7 report this week.

Stocks are on track for a relatively flat week, but investors may feel a little whipsawed following an early week drop and subsequent recovery on geopolitical volatility.

Kathy Jones and Liz Ann Sonders discuss market volatility, tariffs, Greenland, Japanese bond yields, and some momentum toward precious metals.