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Market Snapshot: U.S. stocks lose momentum as Fed decision is imminent

U.S. stocks surrendered earlier gains to flirt with negative territory Wednesday as the Federal Reserve’s interest-rate decision loomed. The market had traded higher after the Bank of Japan overhauled its monetary-policy framework but that rally proved to be short-lived.

The BOJ kept its deposit rate unchanged at negative 0.1%. It also introduced a zero interest-rate target for 10-year government bonds, part of what analysts are calling “yield curve control.” BOJ’s decision spurred a global equity rally, including on Wall Street.

The S&P 500 SPX, +0.14% added a point to 2,141, aided by strength in the energy sector.

The Dow Jones Industrial Average DJIA, +0.10% rose 5 points to 18,134 while the Nasdaq Composite Index COMP, +0.07% slipped 4 points to 5,236.

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