Early Update – Market Treading Water Ahead of FOMC

11:07 a.m. ET Additional economic data since the open includes: The final IHS Markit Manufacturing PMI for January came in at 46.9 after the prior reading of 46.8 (a reading below 50 denotes contraction and above 50 denotes expansion) The ISM Manufacturing Index fell to 47.4% in January (consensus 48.0%) from 48.4% in December. The…