Stock futures were mixed Monday at the start of a week that will be a hugely consequential for financial markets as the Federal Reserve appears poised to cut its benchmark interest rate for the first time in four years.

The Dow Jones Industrial Average (DJIA) clipped into another record intraday bid to kick off the new trading week. The largest equities on the New York Stock Exchange (NYSE) inched higher on Monday, ahead of Wednesday’s Federal Reserve (Fed) rate call, which is widely expected to be the Fed’s first rate cut since March of 2020.

U.S. stocks were mixed after the close on Monday, as gains in the Telecoms, Oil & Gas and Financials sectors led shares higher while losses in the Technology, Consumer Services and Consumer Goods sectors led shares lower.