Stocks are opening mixed on Wall Street today.

Cruise lines are falling while gold miner Freeport-McMoRan and Texas-based oil explorer Diamondback Energy are leading the gainers at the opening bell.

The overall S&P 500 and the Dow Jones Industrial Average are both up less than a percent and the Nasdaq Composite is flat.

Trading is hesitant ahead of a two-day meeting of the Federal Reserve’s policy-making committee that begins Tuesday. Economists expect the central bank to announce another 0.75% hike in short-term rates as it bids to rein in inflation.

European shares shifted from losses to gains after Asian markets finished lower and oil prices declined.

The U.S. economy is slowing, but healthy hiring shows it is not yet in recession, Treasury Secretary Janet Yellen said Sunday on NBC’s “Meet the Press.” She spoke ahead of the release this week of a slew of economic reports that will shed light on an economy currently besieged by rampant inflation as interest rates rise.

The highest-profile report will likely be Thursday, when the Commerce Department will release its first estimate of the economy’s output in the April-June quarter.

“While rising jobless claims, softer home sales, and a buildup in gasoline inventory show the Fed front-loading rate hikes are causing a slowdown and bringing inflation under control, the issue is at what cost,” Stephen Innes of SPI Asset Management said in a commentary.