Traders on the New York Stock Exchange were treading carefully as stock futures hovered near the flat line Tuesday night, with eyes fixed on the Federal Reserve’s impending interest rate decision. Dow Jones Industrial Average futures slipped by 39 points, a decrease of 0.08%, while S&P 500 futures fell 0.04%. In contrast, Nasdaq 100 futures showed a slight uptick of 0.05%.
The major U.S. stock indices closed higher on Tuesday but pulled back from their intra-day peaks, largely influenced by rising oil prices. The S&P 500 wrapped up the day with a 0.3% gain, and the Nasdaq Composite rose nearly 0.5%. The Dow added 46.85 points, marking an increase of 0.1%.
In political news, President Donald Trump made headlines with a Truth Social post stating that the U.S. does not require assistance from NATO allies regarding the situation in the Middle East. This statement followed Trump’s indication on Monday that a coalition could form to safeguard maritime passage through the Strait of Hormuz.
Oil markets also reacted sharply as West Texas Intermediate futures surged nearly 3%, closing at $96.21. Meanwhile, Brent futures rose 3.2% to settle at $103.42, the highest level since August 2022. Concerns over a wave of Iranian attacks targeting the UAE’s energy infrastructure intensified fears regarding crude oil and fuel transportation.
Traders are now awaiting the Federal Reserve’s decision on interest rates expected Wednesday. Market analysts anticipate the central bank will maintain rates in the current range of 3.5% to 3.75%. Fed Chair Jerome Powell’s comments are particularly significant, as investors seek insight into how recent oil price trends may influence future monetary policy.
Anthony Saglimbene, chief market strategist at Ameriprise Financial, acknowledged the cautious trading climate, noting, “Markets continue to trade with some hesitation ahead of Wednesday’s Fed decision and elevated oil prices.” He added that while the Fed is likely to keep rates steady, investors will be keen to understand how policymakers perceive the Iran conflict in relation to inflation risks and economic growth.
Similarly, Jeff Buchbinder, chief equity strategist at LPL, concurred, emphasizing that a solid economy, more reasonable valuations, and strong corporate fundamentals continue to bolster investor confidence. In addition to the Fed’s decision, traders are also focused on the upcoming producer price index (PPI) reading for February, which the Dow Jones consensus predicts will show a 0.3% increase.
Earnings reports are also in the spotlight, particularly for Micron Technology. The chipmaker is set to announce its quarterly results after the market closes on Wednesday. The stock has gained nearly 62% this year, buoyed by soaring demand for high-bandwidth memory.
As geopolitical uncertainties related to Iran loom large and oil prices remain volatile, the market’s next steps hinge on both economic data and corporate performance, setting the stage for a critical week in financial markets.
Original Source: https://www.cnbc.com/2026/03/17/stock-market-today-live-updates.html
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Publish Date: 2026-03-18 07:19:00
