A.M. Update

S&P futures are just about flat ahead of the FOMC decision at 2:00 p.m. ET, and Fed Chair Powell’s press conference at 2:30 p.m. ET. China’s Caixin Manufacturing PMI returned into contraction after two months of expansion. The weekly MBA Mortgage Applications Index declined 2.1% after last week’s 1.0% decline. The October ADP Employment Change…