Dow Jones Futures: Oil Prices Cap Market Gains; Fed Decision, Micron Earnings Loom

Stock market gains reversed Tuesday as rising crude oil prices pressured equities, erasing earlier positive momentum amid broader economic uncertainty. The Federal Reserve’s upcoming policy decision is widely anticipated to have minimal market impact, with analysts labeling it a potential "nonevent" given stable inflation expectations. Micron Technology’s earnings report, due later this week, is now the focal point for investors, with semiconductor performance seen as a bellwether for tech sector health. Energy sector volatility drove the downturn, as oil’s rebound overshadowed modest gains in other sectors, highlighting persistent sensitivity to commodity price fluctuations. Traders remain cautious ahead of key economic data, balancing Fed inaction against corporate earnings risks in a market increasingly reactive to macroeconomic shifts.