Stock market today: Dow, S&P 500, Nasdaq futures rise with Fed decision on deck

Markets digested caller rhetoric astir the warfare successful Iran, aft President Trump said successful a Truth Social station that "we nary longer 'need,' oregon desire, the NATO Countries’ assistance — WE NEVER DID!" The remarks followed earlier signals from the president putting unit connected allies to assistance safeguard ships done the Strait of Hormuz.

Oil prices retreated aft their caller surge. West Texas Intermediate crude futures (CL=F) pulled backmost implicit 1% to commercialized astatine implicit $93 a barrel, portion Brent crude futures (BZ=F) slid astir 0.2% to $103, having marked their highest adjacent since August 2022 connected Tuesday.

Wall Street is bracing for the Fed's argumentation determination aboriginal Wednesday, and for what Chair Jerome Powell mightiness accidental astir the imaginable inflationary interaction of precocious lipid prices successful his comments. They'll besides digest the cardinal bank's Summary of Economic Projections, which volition shed airy connected policymakers' expectations for inflation, the labour market, and the US system arsenic a whole. Markets broadly expect policymakers to permission rates unchanged successful a 3.5% to 3.75% range.

On the firm front, investors are watching Micron Technology (MU), which is acceptable to study quarterly results aft Wednesday’s close. General Mills (GIS) and Macy's (M) besides study connected Wednesday.

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