Stock market today: Dow, S&P 500, Nasdaq futures fall after PPI inflation comes in hot ahead of Fed decision

Market Overview - US stock futures declined as inflation readings indicated accelerating prices, with Dow Jones Industrial Average futures down 0.4% and S&P 500 and Nasdaq 100 futures falling 0.3% [1] - Wholesale inflation rose 0.7% month-over-month in February, exceeding economists' expectations of 0.3%, and a year-over-year increase of 3.4% also surpassed estimates [2][7][8] Oil Market - Brent crude futures increased to nearly $105 per barrel amid ongoing Middle East conflicts, while West Texas Intermediate crude futures traded near $95 [4] - The rise in oil prices is influenced by geopolitical tensions, including attacks on Iranian energy facilities and the killing of a key Iranian official [11][12][13] Federal Reserve and Economic Projections - Wall Street anticipates the Federal Reserve's policy decision, with expectations of maintaining interest rates in the 3.5% to 3.75% range [5] - The Fed's Summary of Economic Projections will provide insights into expectations for inflation, the labor market, and the overall US economy [5] Corporate Earnings - Micron Technology is set to report quarterly results, while General Mills and Macy's are also reporting [6] - Macy's reported better-than-expected fourth-quarter earnings with adjusted EPS of $1.84, surpassing the $1.54 estimate, and revenue of $7.6 billion, slightly above the $7.5 billion forecast [20][21] - Macy's same-store sales increased by 1.8%, outperforming the expected decline, with luxury business Bloomingdale's seeing nearly 10% growth [22][23] Debt Restructuring - New Fortress Energy shares rose 10% following a significant debt restructuring plan that reduces debt from $5.7 billion to $527.5 million [29]