US stock futures yielded gains on Wednesday as investors waited for the Federal Reserve’s latest stance on economic growth and inflation outlook.
Futures tied to the S&P 500 rose 0.4%, suggesting that broad tracks may open higher. Contracts tied to the Nasdaq Composite Index crossed 0.2%. Both benchmarks are so far in the negative range for the month, with the Nasdaq down nearly 5% in September.
Investors are weighing the prospect of continued support from the central bank against further delays in a fiscal spending package expected by lawmakers. While the Fed is not expected to change interest rates on Wednesday, decision-makers may revise economic and inflation projections closely monitored.
“We expect to see an upgrade in U.S. growth figures,”
The meeting is the Fed’s first since creating a new framework that governs how to conduct policy in the long term. Investors are eager to get more guidance on how change will work in practice.