The stock market saw slim-to-modest gains Tuesday after Monday's solid bounce, but the major indexes came off highs, still off key levels. Crude oil futures rebounded after Monday's solid declines.

The Fed meeting may be a nonevent Wednesday afternoon. There's virtually no chance of any Fed move, with policymakers expected to remain on hold for several months, though the economic and geopolitical picture is very much in flux.

Dow Jones futures were 0.4% above fair value. S&P 500 futures climbed 0.4% and Nasdaq 100 futures rose 0.4%.

U.S. crude futures fell 1% to just above $95 a barrel. Brent crude climbed slightly, near $104. Iraq and its semi-autonomous Kurdistan region reached a deal to resume oil exports via a pipeline through Turkey.

The 10-year Treasury dipped to 4.18%, continuing a retreat.

Investors will get the February PPI inflation report at 8:30 a.m. ET. The Fed meeting statement is due at 2 p.m., with Fed chief Jerome Powell's press conference at 2:30 p.m.