Stock market today: Dow, S&P 500, Nasdaq edge up as oil tops $100 again, Fed meeting kicks off

March 18, 2026 - 00:40

U.S. stock indices managed modest gains in a cautious trading session as investors balanced escalating geopolitical risks against the start of a pivotal Federal Reserve policy meeting. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all closed slightly in the green.

The primary focus for markets remains the ongoing and intensifying conflict in the Middle East, which continues to inject significant uncertainty into global financial outlooks. This unrest has directly propelled oil prices, with Brent crude once again breaching the $100 per barrel mark. The sustained rise in energy costs stokes concerns over persistent inflationary pressures, complicating the economic landscape.

Against this tense backdrop, the Federal Reserve commenced its two-day monetary policy meeting. Officials are widely expected to hold interest rates steady, but investors will scrutinize the subsequent statement and commentary for clues about the central bank's path forward. The combination of high oil prices and elevated inflation data has led markets to anticipate that the Fed will maintain a restrictive stance for a prolonged period.

Trading activity reflected a guarded optimism, with gains tempered by the recognition that the geopolitical situation poses a continued threat to stability. The market's ability to grind higher despite these headwinds underscores a resilience, but the path ahead remains heavily dependent on both geopolitical developments and the Fed's policy signals.