U.S. stock index futures rose on Wednesday, buoyed by a retreat in oil prices, as investors focus on the Federal Reserve's interest rate decision and policy outlook.
As of pre-market Eastern Time, Dow E-mini futures were up 0.57%, S&P 500 futures up 0.53%, and Nasdaq 100 futures up 0.67%. A slight pullback in energy prices eased inflation concerns, supporting market sentiment.
Technology stocks strengthened ahead of the market open, with Nvidia and AMD both rising about 1%, driven by ongoing growth expectations for artificial intelligence infrastructure demand. The market is also closely watching corporate cooperation dynamics, including chip and memory supply chain expansions.
The Middle East situation remains unresolved, but news of the resumption of exports from Iraq's Kirkuk oil field has alleviated supply tightness concerns. Oil prices neared $100 per barrel but experienced a short-term dip.
Investors are particularly focused on the Federal Reserve's interest rate decision, which will be announced at 2:00 PM Eastern Time. According to LSEG data, the market has postponed the first rate cut expectation from July to December.
Meanwhile, the CBOE VIX index has fallen to a two-week low, indicating a temporary easing of market risk sentiment. The S&P 500 index recently recorded its first consecutive two-day rise in three weeks.
