European and American stock markets are volatile, traders are shifting their focus to the meeting of the Federal Reserve.

The stock market and bond market rose slightly, with investors remaining cautious ahead of the Federal Reserve's monetary policy decision and latest economic forecasts. Oil prices fell from a near five-month high. S&P 500 index futures rose 0.3%, while European stock markets remained mostly flat. U.S. Treasury prices remained stable, with the 10-year Treasury yield at 4.38%. The Bloomberg Dollar Index fell slightly after reaching its largest monthly gain in the U.S. session. Due to escalating geopolitical tensions and risks in the inflation and labor market associated with the Trump administration's tariff policies, Fed policymakers face increased uncertainty. It is widely expected that officials will keep policy unchanged at their fourth consecutive meeting on Wednesday, with traders betting on two 25 basis point rate cuts this year. The Fed's latest forecasts on economic growth, unemployment rate, and interest rates will be closely watched.