All three major indicators of Wall Street bounced since the beginning of the week, with the Dow Jones Industrial Average (+0.85%) leading the recovery party on March 17. This may reflect hopes for increasingly favourable conditions for the domestic U.S. manufacturing business against cross-border tariff war fears, complemented by supposedly soft signals from the Dollar-based borrowing costs regulator at the Federal Reserve meeting onn Wednesday night. The chances of any  rate move this time are close to zero, but the majority of the open market committee could mention easing inflationary pressures to set their rate path projections a step lower for the rest of the year, which could be enough to improve the overall sentiment.

Besides the recent normalization of both consumer and producer price dynamics, the central bankers may use an opportunity to join White House officials in touting the progress in egg prices halving since January peak. The Daily National Shell Egg Index just indicated that the cost of a dozen Large White eggs, the commonly purchased variety in the U.S., has fallen to $3.45 after peaking at as much as $6.55 per dozen in the end of January. Fast measures to increase imports helped against soaring egg prices, which had escalated before due to a bird flu outbreak, with many household budgets being affected even to form a focal point of political discourse.

The S&P 500 broad market barometer was able to touch 5,700 points on the rebound after a dip in the direct vicinity of the 5,500 psychological barrier. The Wall Street predictably found a strong support there, while the tech-heavy Nasdaq 100 remained a weak link as it has not gone through the 20,000 resistance area. Investors may be caught in a pincer-like movement of selling too fast rallies in particular stocks while buying any more dips in the S&P 500 futures, day by day, balancing between these two significant boundaries for the two specific Wall Street indicators until the accumulation of micro drivers leads to cumulative breakout effects.

In this regard, the Fed meeting's outcome may not be so much in focus, compared to Nvidia's annual GTC conference for developers in San Jose, California. Exhibits are scheduled for launching the day before the Fed, going to give further insight into demand for its cutting-edge AI Blackwell chips. Nvidia promised the event would be "bigger and better than ever", yet markets want to witness this magic in figures of contracts and technical characteristics. GTC passes for Nvidia's CEO Jensen Huang address as well as over 1000 sessions and hands-on training, are sold out. All this splendour of engineering thoughts will stretch out over the entire week and can significantly affect prices of Nvidia stock, which in turn is a bellwether not only for the technological segment of Wall Street.

However, we got a persistent impression that an even stronger recovery jump at the end of the currently corrective phase on Wall Street is only a matter of a short or a little bit longer time. All leading research houses are speaking with one voice on this, usually maintaining their 6,500 to 6,850 targets for the S&P 500 index through 2025, with some reputable analysts raising the bar even higher. Whose forecast stands out the most from the set of other bets is Oppenheimer group of analysts, as it keeps 7,100 as a guideline.

Among other views, a fresh UBS note for clients was remarkable, saying that markets will mount a comeback as soon as "in coming weeks" on partially "lifting trade policy uncertainty", especially when taking into consideration that the last "foray" into correction territory was "unusually quick". They also believe it would be "politically counterproductive for the Trump administration to pursue policies that risk pushing the economy into recession", so that it may start to clarify "perhaps shortly after the Trump administration announces its plans for “reciprocal” tariffs on April 2". UBS analysts calculated that, historically, for investors who normally bought after stocks have fallen 10%, the average S&P 500 return over the next 3, 6, and 12 months is 8%, 13%, and 19%, respectively.