U.S. stock futures were slightly higher ahead of Wednesday’s session as investors looked forward to the Federal Reserve’s interest rate decision, due today. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.21%, 0.14%, and 0.12%, respectively, at 12:50 a.m. EDT, on July 30.
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Tuesday’s trading session marked the first time in seven sessions that the S&P 500 did not close at an all-time high and was down 0.3%. The Dow Jones and the Nasdaq Composite also fell 0.5% and 0.4%, respectively.
All eyes are now on the Fed’s upcoming interest rate decision on Wednesday afternoon. According to the CME Group (CME), there is a 98% chance the central bank will keep rates steady at 4.25% to 4.5%.
Investors are looking forward to major economic data releases, such as reports on private payrolls, gross domestic product, and pending home sales. Also, major companies such as Meta Platforms (META), Microsoft (MSFT), Ford (F), Etsy (ETSY), and Robinhood (HOOD) will report earnings on Wednesday.