Equities added a second straight session of gains as Delta's record booking pace answered the market's demand-resilience question; the Fed's two-day meeting opened with a hold priced at near-certainty.

Crude oil partially unwound Monday's 5% Hormuz relief drop — rising back toward $96 on thin tanker confirmation — while February PPI lands at 8:30 and the Fed's two-day meeting opens this morning.

Trump's suggestion the Iran conflict is nearing its end pulled crude from overnight highs, steadying futures that had been down more than 2% heading into yesterday's session.