U.S. stock markets closed almost unchanged on Tuesday, holding near record highs, while the dollar remained strong as positive economic indicators eased concerns of a slowdown and investors awaited the Federal Reserve’s anticipated interest rate cut, the first in over four years. Data showed an increase in U.S. retail sales in August and a rebound in factory production, indicating a robust economy. Chief market economist at Spartan Capital Securities, Peter Cardillo, expects Fed Chair Jerome Powell to announce a 25 basis point rate cut on Wednesday, with potential signals for future actions. Traders are predicting a 63% chance of a 50 basis point rate cut by the Fed on Wednesday, according to CME Group’s FedWatch tool. The S&P 500 hit an all-time intraday high before closing 0.03% higher, the Dow Jones Industrial Average dipped 0.04%, and the Nasdaq Composite finished 0.20% higher. The dollar strengthened against major currencies, rising 0.28% to 100.98. The Bank of England and Bank of Japan are also holding monetary policy meetings this week but are expected to maintain current rates. In Asia, China’s economic concerns lingered as data revealed a slowdown in industrial output growth and weakening retail sales and new home prices in August. Oil prices saw an increase due to Hurricane Francine’s impact on U.S. Gulf of Mexico output, with U.S. crude settling 1.57% higher and Brent finishing 1.31% up. Meanwhile, spot gold slid 0.51%, closing at $2,569.51 an ounce.