Futures for the Dow Jones Industrials gained 39 points, or 0.1% to 42,077.
Futures for the S&P 500 inched forward 4.75 points, or 0.1%, at 5,705.25.
Futures for the NASDAQ advanced 28.25 points, or 0.2%, to 19,704.
The Fed is expected to deliver its latest policy decision at 2 p.m. ET. The central bank is expected to lower rates by at least a quarter percentage point, but traders are divided over how big the reduction will be. CME Group’s FedWatch tool shows traders pricing in a 65% chance of a half-point cut and 35% odds of a quarter-point move.
Wednesday note.
The ushering in of a cutting cycle is expected to shore up a stalling economy and further boost an already strong market, with the S&P 500 at a record following an 18% gain this year. The benchmark has averaged gains of about 16% in the 12 months following the first cut, according to data from Canaccord Genuity.
In Japan, the Nikkei 225 took on 0.5% Wednesday, while markets in Hong Kong were closed for holiday.
Oil prices slid 64 cents to $70.55 U.S. a barrel.
Gold prices gained $11.60 to $2,604