By Silvia Amaro, CNBC–
U.S. stock index futures were pointing to a higher open Wednesday morning, as market participants prepared for another day of corporate earnings and waited to hear from the Federal Reserve.
At around 02:30 a.m. ET, Dow futures rose 99 points, indicating a positive open of more than 111 points. Futures on the S&P and Nasdaq both suggested a higher open too.
Wall Street closed higher on Tuesday on the back of earnings. This is set to remain a key focus for traders Wednesday, with GlaxoSmithKline, CME Group, Qualcomm and Fitbit due to report.
On the data front, there will be ADP payrolls at 8.15 a.m. ET; manufacturing PMIs due at 9.45 a.m. and constructions spending figures released at 10 a.m. ET.
However, there’s a special focus on the Federal Reserve, with Chairman Powell due to address the press at 2 p.m. ET.
The central bank is widely expected to keep interest rates unchanged, but investors will be looking to see if the central bank changes its dovish tone. Ahead of the meeting, President Donald Trump called for a 1% rate cut and more quantitative easing.
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