Stock Market Today, March 17: Markets Edge Upwards as Fed Meeting Opens

Market Performance - The S&P 500 rose 0.25% to 6,716.09, the Nasdaq Composite added 0.47% to 22,479.53, and the Dow Jones Industrial Average edged up 0.10% to 46,993.26 despite rising oil prices [1] - The slight gains in the market suggest traders are beginning to look beyond the ongoing Iran conflict, even as crude oil prices exceeded $100 per barrel [5] Company Movements - Micron Technology rallied ahead of its earnings report due to optimism surrounding memory chip demand [2] - Uber Technologies gained from an extended robotaxi partnership with Nvidia [2] - Qualcomm benefited from a newly announced $20 billion buyback and a dividend increase [2] - Eli Lilly fell after HSBC downgraded it from "hold" to "reduce" and cut its obesity drug forecasts [3] - The Trade Desk slipped in the final hours of trading [3] - Airline stocks gained after Delta raised its revenue forecast [3] Economic Context - The Federal Reserve began a two-day meeting amid geopolitical turmoil and high energy prices, with expectations to leave rates unchanged [4] - Investors are closely monitoring Chair Jerome Powell's comments for insights on economic conditions and potential future rate changes [4] - The latest Global Fund Manager Survey from Bank of America indicated concerns among fund managers regarding global growth and rising inflation, with increasing cash allocations [5]