Wall Street ends up as traders turn to Fed
By Noel Randewich and Johann M Cherian
Tue March 17, 2026
For no particular reason, all the indexes closed the day with modest gains except for tech which had a pretty good up day. But the day didn’t start that way with them all way up in the morning, the Dow almost 500. All the usual problems remain with the one positive being that Wall Street is betting on now one more rate cut near the end of the year (up from zero a couple days ago) and that tomorrow’s Fed announcement will bring more clarity on inflation.
Hopes are that it will follow past patterns and just look through the big shocks of the oil prices rather than weighting as inflation triggers. The S&P has fallen 4% since its record high in January, but that is considered a good thing as at 21x earnings, it is now right between its overvalued state of 23x in January to its historical average of 19x, in other words heading in a healthier and more stable direction. Awaiting the Fed tomorrow, the 16.9 billion volume today was way below the 19.8 average.
DJ: 46,946.41 +387.94 NAS: 22,374.18
+268.82 S&P: 6,699.38
+67.19 3/16
DJ: 46,993.26 +46.85 NAS: 22,479.53
+105.35 S&P: 6,716.09
+16.71 3/17
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