Market Overview

Benzinga Afternoon Update

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Stocks in the U.S. moved lower throughout the morning. The Dow Jones trimmed its gains, and is currently only trading up about 17 points. The Nasdaq is up roughly 2 points, while the S&P 500 is trading up about 0.14%.

On the commodity front, WTI crude oil is trading down slightly near $97.12. Natural gas is also down a bit, trading around $2.977. Both silver and gold have moved lower -- down 1.45% and 0.01% respectively -- while platinum and palladium are up over 2 percent and 1 percent.

Wednesday morning has been dominated by headlines out of Europe. This morning, Germany's high court ruled that funding of the European Stability Mechanism (ESM) is legal under German law. Various European politicians have made comments about the ruling, with Germany's Prime Minister Angela Merkel saying that it had brought clarity to the situation. Finnish, Swedish and Dannish politicians have made more cautious comments, with Finland's Urpilainen stating that the Finns shouldn't be required to take responsibility for others.

Right now, the Federal Reserve is currently meeting in Washington. The FOMC will release its rate decision tomorrow at 12:30pm, and could opt to deploy a third round of quantitative easing.

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