FX.co ★ US Futures Inch Mostly Higher

US equity futures were mostly higher on Wednesday, supported by a rebound in the AI infrastructure sector ahead of the Federal Reserve’s policy decision later in the session. Futures linked to the S&P 500 and Nasdaq inched up, recovering some of the prior session’s losses, while Dow futures were little changed, holding above the record 52,000 level.

On the geopolitical front, Iran and the US remained on course to finalize an agreement to end the war by Friday, a deal that is expected to restore energy exports from all Persian Gulf producers and ease concerns about energy-driven inflation.

The Fed is widely expected to leave interest rates unchanged, but investors will focus on any signals about the policy outlook. In addition to a new Summary of Economic Projections, Chair Warsh is set to face questions on possible changes to the monetary policy framework and on balance sheet reduction, which he has previously supported.

In premarket trading, Amazon and Nvidia posted modest gains, while Marvell and AMD rose more than 2%. Intel climbed 3% after its new chip entered risk production.