Pre-FOMC Market Update

1:27 p.m. ET The averages have settled in to a lateral intraday range holding gains. The FOMC is up next with its policy statement at 2:00 p.m. ET, followed by Fed Chair Powell’s press conference at 2:30 p.m. SP-500 +1.5%, Dow +0.85%, NASDAQ-100 +2.5%, Small Caps +1.5% The S&P is still trading in a bear…