U.S. stock index futures rose on Wednesday as Wall Street cheered strong quarterly results from tech giant Apple while awaiting the Federal Reserve's latest monetary policy decision.
Futures for the Dow Jones Industrials added 65 points, or 0.2%, to 27,229.
Futures for the S&P 500 acquired 5.25 points, or 0.2%, at 3,017.50
NASDAQ futures hiked 29 points, or 0.4%, to 7,993.50
Apple reported Tuesday evening earnings per share and revenue for the previous quarter that topped analyst expectations, sending the stock up more than 4% in the pre-market. The company also issued better-than-expected revenue guidance for the fourth quarter.
General Electric shares also rose 4% before the bell as earnings bested projections. The company's outlook for industrial cash flow also topped estimates.
Nearly 60% of S&P 500 companies have reported earnings so far. Of those companies, 76% have posted stronger-than-forecast quarterly profits.
The U.S. central bank is widely expected to cut interest rates for the first time since the financial crisis more than a decade ago. Market expectations point to a quarter-point rate cut.
The Fed is set to deliver its decision at 2 p.m. ET, with Chairman Jerome Powell scheduled to hold a press conference at 2:30 p.m. ET.
On the data front, ADP payrolls for July will be released before the opening bell. Employment cost index figures for the second quarter and Chicago Purchasing Manager Index data for July will follow slightly later in the session.
Overseas, in Japan, the Nikkei 225 index faltered 0.9% Tuesday, while in the Hong Kong, the Hang Seng index let go of 1.3%,
Oil prices moved upwards 44 cents to $58.49 U.S. a barrel.
Gold prices added $1.70 to $1,437.50 U.S. an ounce.