US stock futures were mixed on Wednesday, with S&P 500 futures up 0.2% and Nasdaq 100 futures rising 0.4%, while Dow Jones futures slipped nearly 70 points. Investor sentiment remained cautious ahead of the Federal Reserve’s monetary policy decision later in the day, as well as quarterly earnings reports from major companies including Microsoft and Alphabet, scheduled for release after the closing bell. The Fed is widely expected to keep interest rates unchanged, following a 25 bps hike last month, with market attention focused on policymakers’ guidance for the rest of the year.
Meanwhile, US semiconductor stocks moved higher in premarket trading, boosted by record quarterly profits from South Korea’s SK Hynix. Micron Technology climbed 3.7%, while Arm Holdings gained 2.3%, Intel 1.8%, AMD 1.6%, and Nvidia 0.8%. Alphabet also advanced 1.3% amid reports that OpenAI plans to purchase Google’s AI chips.