On a potentially calm trading day, attention may focus on the Federal Open Market Committee (FOMC) policy announcement and Federal Reserve Chair Jerome Powell's first media briefing since President Trump assumed office. Early indications from the U.S. Futures Index suggest that Wall Street may see a generally downward opening.
In the Asian markets, the dollar remained stable, while gold experienced a slight decrease. Oil prices showed mixed movements.
Asian markets closed broadly higher, and European markets were mostly trading positively.
As of 7:55 a.m. ET, Dow futures had dropped 13 points, S&P 500 futures had decreased by 0.25 points, and Nasdaq 100 futures showed a gain of 65.5 points.
U.S. stock indexes concluded Tuesday's session on the rise. The Nasdaq increased 391.75 points, or 2.0%, reaching 19,733.59. The S&P 500 rose by 55.42 points, or 0.9%, to 6,067.70, while the Dow gained 136.77 points, or 0.3%, closing at 44,850.35.
On the economic agenda, the Advance Report on International Trade in Goods for December is due at 8:30 a.m. ET, with market expectations pointing to a deficit of $105.5 billion, compared to a $102.9 billion deficit in November.
Additionally, the Advance Retail Inventories for December will be published at 8:30 a.m. ET; the previous month's inventories were up 0.3%. The Advance Wholesale Inventories for December, also set for release at 8:30 a.m. ET, are anticipated to increase by 0.3%, following a decline of 0.2% in November.
The Energy Information Administration (EIA) is scheduled to release its Petroleum Status Report for the week at 10:30 a.m. ET. The last report showed crude oil inventories fell by 1.0 million barrels, while gasoline inventories rose by 2.3 million barrels.
The Survey of Business Uncertainty for December is slated for release at 11:00 a.m. ET, with the previous month's sales growth recorded at 3.89% and employment growth at 4.46%.
Additionally, a 4-month Treasury bill auction is scheduled for 11:30 a.m. ET.
The FOMC meeting announcement is expected at 2:00 p.m. ET, with consensus predictions indicating no change from the previous decrease of 25 basis points.
At 2:30 p.m. ET, Fed Chair Jerome Powell will hold a press conference to elaborate on the FOMC's latest quarterly economic projections.
On Wednesday, Asian stock markets generally rose. Markets in China, Hong Kong, Singapore, and South Korea were closed for the Lunar New Year holidays.
Japanese markets experienced growth, with the Nikkei index climbing 1.02% to 39,414.78, while the broader Topix index increased by 0.68% to settle at 2,775.59.
Shares in Australia advanced, with the S&P/ASX 200 index rising by 0.57% to 8,447, and the broader All Ordinaries index closing 0.65% higher at 8,700.70.
