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Wall Street ends flat as Federal Reserve meeting looms

Wall Street ends flat as Federal Reserve meeting looms

Wall Street closed little changed in light trading on Monday as consumer discretionary gains countered losses in energy shares and investors laid low ahead of a US Federal Reserve meeting.

The Fed is not expected to raise interest rates at the two-day meeting, which begins on Tuesday, but investors will be on the lookout for clues about future hikes.

Global oil prices fell as much as 4 per cent on concerns a six-week market recovery has gone beyond fundamentals.The S&P 500 is now down about 1 per cent in 2016, after having been down as much as 10.5 per cent in mid-February.

As they also wait on the release of economic data, including US retail sales, investors were further digesting moves by the European Central Bank and other global economic news last week.

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