Equities extend rebound as Fed meeting begins.

Equity markets continued their upward momentum on Tuesday as a rebound took hold across several sectors. Consumer discretionary stocks, particularly in the travel and airline industries, led the gains as some inflation pressures showed signs of easing. This momentum persisted despite a move higher in WTI Crude Oil futures, which may complicate the outlook for the Federal Reserve. The Fed's policy meeting began today, with market participants pricing in a 99% probability that interest rates will remain unchanged. Trading activity has been exceptionally high, with recent data showing nearly 14 million options and futures contracts traded. In the Nasdaq-100, short-term put and call volume reached near parity, while implied volatility remains elevated near 25. In the crypto space, Bitcoin remains off its daily highs, facing potential technical resistance at its 50-day moving average near 78,000.