Stock Comeback to Pause Ahead of Fed Decision

U.S. stock index futures were little changed on Wednesday morning as investors waited for the Federal Reserve’s latest decision on monetary policy.

Futures for the Dow Jones Industrial Average gained 15 points, or 0.1%, to 26,519.

Futures for the S&P 500 eked up 0.5 points at 2,926.75.

NASDAQ futures improved 7.25 points, or 0.1%, to 7,680.75

Oracle and Winnebago Industries are among the companies declaring earnings Wednesday

Expectations of lower rates helped the market rebound this month after a torrid performance in May. The S&P 500, Dow and NASDAQ were all up at least 6% in June entering Wednesday’s session.

The Fed’s decision is scheduled to be announced this afternoon at 2 p.m. ET. The central bank is not expected to make any changes in terms of monetary policy, but investors will look for clues on whether the Fed will cut rates later this year. Fed Chair Jerome Powell will hold a news conference after the announcement.

Overseas, the Nikkei 225 spiked 1.7% Wednesday, while in Hong Kong, the Hang Seng index hiked 2.6%

Oil prices squeezed up eight cents to $53.98 U.S. a barrel.

Gold prices eased $3.20 to $1,347.50 U.S. an ounce.