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Stocks trade lower as Fed interest rate decision looms

Yahoo Finance Live’s Brad Smith breaks down how stocks are moving ahead of Wednesday’s FOMC meeting.

Video transcript

BRAD SMITH: Welcome back, everyone. We're almost 30 minutes into today's trading activity. And taking a look at the major averages first and foremost here with a brief check of the markets. Dow Jones industrial average is down right now by about half a percent. NASDAQ composite-- tech heavy average, you're seeing that down by a quarter of a percent here on the day early in trade. And the S&P 500-- that, too, down by about half a percent.

We'll round that off too. Want to take a look at some of the trending tickers. Some of them earnings-related, some of them moving in tandem with other names that reported earnings. Yeah. I'm zeroing in on Lyft here. Lyft is down by about 2%. This after Uber reported their earnings. Now, Uber, you're seeing those shares continue to hold onto gains here on the day after topping expectations on revenue.

And ultimately, the shares right now-- they're up by about 6.2%. Also want to take a look at the sector activity here right now to see where things are continuing to transpire. As of right now, you're seeing energy bringing up the caboose. That's down by 3% here on the day. We'll continue to watch XLE. But you've got some bright spots-- that's in the form of XLV. So health care doing well here today. Pfizer, no doubt perhaps on the mind of some investors. We'll continue to talk about that a little bit later on.