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Major equity indexes in the United States started the week modestly higher on Monday. As of writing, the Dow Jones Industrial Average was up 0.06% while the Nasdaq Composite and the S&P 500 were both adding 0.3% on the day. Despite this positive start, the CBOE Volatility Index, Wall Street’s fear gauge, is up nearly 3% on the day to point out to a weak risk-appetite.

Among the 11 S&P 500 major sectors, financials is adding around 1% to lead the gains supported by the recovery seen in the Treasury bond yields while energy rises to 0.9%. On the other hand, communication services is down 0.5% on the day.

Ahead of Wednesday’s FOMC announcements, investors are likely to remain on the sidelines. “We suspect that with downside risks to activity overseas remaining on the radar, there will be a small downward revision to the dots but that they will still imply that higher policy rates rather than lower policy rates are more likely,” Mizuho Bank analysts argue.