"Stocks Hold Steady as Investors Await Fed's Year-End Decision"

Stocks are mixed as investors await the Federal Reserve's policy decision and inflation data. While the Fed is expected to hold rates steady, there are concerns that rate cuts could signal a slowing or contracting economy, leading to an "unequal and fragmented" equities market in 2024. Investors will be more focused on rewarding companies showing growth and avoiding profitless and speculative ones. Macy's shares surged after receiving a $5.8 billion buyout offer, Occidental Petroleum rose after announcing plans to acquire CrownRock, Cigna gained after backing away from a potential merger with Humana and announcing a major stock buyback, and Coinbase shares declined as traders locked in profits following a surge in Bitcoin and other cryptocurrencies.