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U.S. stock index futures edged higher on Wednesday as investors positioned for the Federal Reserve’s interest rate decision and awaited earnings from some of Wall Street’s most influential technology companies.
At 05:10 ET (10:10 GMT), Dow Jones Futures added 30 points, or 0.1%, S&P 500 Futures rose 26 points, or 0.4%, and Nasdaq 100 Futures jumped 215 points, or 0.8%.
Wall Street closed mixed on Tuesday. Weakness in healthcare stocks dragged the blue-chip Dow Jones Industrial Average lower, while relative strength in technology and autos lifted other corners of the market. The benchmark S&P 500 and the tech-heavy NASDAQ Composite both ended at fresh record highs.
Fed decision in focus
All eyes now turn to the Federal Reserve, which is widely expected to leave interest rates unchanged when it delivers its decision later in the session.
Markets have largely priced in a pause as policymakers assess recent data showing inflation easing—though still above target—alongside steady economic growth and a resilient labor market.
At the same time, U.S. consumer confidence slumped in January to its lowest level in 12 years, according to the Conference Board. The drop reflects rising pessimism among Americans, fueled by fears of a partial government shutdown after backlash over deadly immigration enforcement actions in Minneapolis, as well as renewed tariff threats from President Donald Trump.
Fed Chair Jerome Powell’s remarks will be scrutinized for signals on how long rates may remain at current levels and when cuts could eventually begin.
Powell’s term ends in May, and Trump said on Tuesday that he will soon announce his pick for the next Fed chair, adding another layer of uncertainty to the policy outlook.
Big tech earnings set the tone
Earnings will also drive market direction this week, with four members of the “Magnificent Seven” due to report.
Tesla, Meta Platforms, and Microsoft will release results after the close on Wednesday, followed by Apple on Thursday. Together, these companies carry enormous weight in major indexes, and their guidance on artificial intelligence spending, cloud demand, and consumer trends is expected to shape sentiment in the days ahead.
Before the opening bell on Wednesday, investors will also digest results from AT&T, Starbucks, and GE Vernova, adding further color to the early stages of earnings season.
