U.S. stocks climbed on Tuesday after a retreat in oil prices eased investors’ concerns about inflation and the prospect that the Federal Reserve will move more aggressively to lift interest rates.
Oil’s decline came as investors waited for Wednesday’s decision by the Fed, which is expected to raise rates for the first time since 2018. Russia’s invasion of Ukraine had increased prices on the commodity well above $100 a barrel, raising the stakes for the U.S. economy and its central bank.