The major averages closed mixed and quiet ahead of this week’s interest rate decision from the Federal Reserve. The Dow Jones Industrial Average fell 179 points, or 0.38%, to finish at 47,560. The S&P 500 fell 6 points while the Nasdaq rose 30 points.

Interest rates were quiet today ahead of the Federal Reserve’s interest rate decision. The benchmark 10-year Treasury yield rose a basis point to 4.18%. The 30-year Treasury yield slid a basis point to 4.80%, while the 2-year Treasury yield climbed more than 2 basis points to 3.61%. Fed funds futures suggest an 87% chance of a decrease, up from under 67% about a month ago, according to CME’s FedWatch tool.

The financials were quiet today except for JP Morgan which fell 4% after the bank made comments at a conference that unemployment may tick up next year. JP Morgan dragged the Dow and S&P 500 lower today.

The small cap Russell 2000 index had no problems today making a fresh 52 week high. Rate cuts could boost small companies more because their borrowing costs are more linked to market rates.

In the commodity space, oil was lower while Exxon got a boost up 2% on increase productions and profit projections. Gold was modestly higher holding steady at $4200 an ounce. Bitcoin and the cryptocurrencies had a nice rebound during the morning with bitcoin rose over $90,000.

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