Stocks are lower today, remaining trapped after last month's big drop.
S&P 500 futures are off 0.3 percent, while most of Europe slid almost 1 percent. Asia was little-changed overnight, and oil is under pressure again.
The S&P 500 has squeezed into an increasingly tight range since crashing to a 10-month low in late August as investors await the Federal Reserve's meeting next Thursday. Expectations increasingly favor an interest-rate increase, so markets could remain under pressure until the news is released.
Today's main economic report is consumer sentiment at 10 a.m. ET, but a positive reading may hurt sentiment by strengthening the case for a Fed move.
There's also bearish news on energy, with Saudi Arabia refusing to lead other big producer countries to defending crude prices. Goldman Sachs also lowered its price target for next year to $45 a barrel from $57, sending oil down about 2 percent today. It already lost about one-third of its value in July and August.
In company-specific news, Mattress Firm dropped 12 and Finisar plunged 15 percent after both companies' earnings and revenue missed expectations. Restoration Hardware rose about 1 percent on strong results.
Metals companies, oil drillers, and solar energy have posted some of the biggest gains over the short run, according to optionMONSTER's proprietary researchLAB market scanner, though they're down big for the year. Transportation stocks, oil refiners, and cruise-ship operators have also outperformed recently. Semiconductors have also been showing signs of life following a big summertime drop.
Aside from the decline in oil, copper and silver slid almost 1 percent and gold is down 0.4 percent. Currencies are little-changed.
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