Wall St. ends flat as Fed meeting looms

Wall Street closed little changed in light trading on Monday as consumer discretionary gains countered losses in energy shares and investors laid low ahead of a U.S. Federal Reserve meeting.

The Fed is not expected to raise interest rates at the two-day meeting, which begins on Tuesday, but investors will be on the lookout for clues about future hikes.

" If investors are inclined to make a bet, then they' re better served by waiting a few days," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

Global oil prices fell as much as 4 percent on concerns a six-week market recovery has gone beyond fundamentals.

The recent rally in oil prices and data pointing to a strengthening U.S. economy have helped stocks recover from a steep selloff at the start of the year.
 
As they also wait on the release of economic data, including U.S. retail sales, investors were further digesting moves by the European Central Bank and other global economic news last week.