US stocks today: S&P 500, Nasdaq open higher as oil pulls back ahead of Fed rate decision

US equity index futures and the cash open moved higher as crude oil retreated ahead of the Federal Reserve's upcoming rate decision, with the S&P 500 and Nasdaq 100 both trading in positive territory. The oil pullback works through the inflation channel: lower energy prices ease near-term headline inflation expectations, which reduces the probability that the Fed signals a more restrictive path and supports the rate-sensitive valuations that dominate the Nasdaq 100. The Nasdaq 100, with its heavier weighting toward long-duration growth and technology companies, is the most directly exposed index to any shift in discount rates, while the broader S&P 500 benefits from reduced input-cost pressure across energy-consuming sectors such as transportation and consumer discretionary. The US dollar is affected through the rate-differential channel, since softer inflation pricing trims expectations for policy tightening and can weigh on USD as yield-sensitive capital reassesses relative returns. Traders will focus on the Fed's policy statement and the press conference that follows, particularly any revision to the dot plot and the chair's language on inflation persistence, as these will deter

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