Investing.com - U.S. stock futures pointed to slightly higher open on Wednesday morning, as earnings season remained front and center for investors, who were also awaiting the outcome of the Federal Reserve's policy meeting later in the day.
The blue-chip Dow futures ticked up 25 points, or about 0.1%, by 6:20AM ET (1020GMT), the S&P 500 futures added 3 points, or 0.1%, while the tech-heavy Nasdaq 100 futures rose 2 points, or less than 0.1%.
Wall Street extended its record-setting run on Tuesday, with the S&P 500 climbing to an all-time high on a heavy day of corporate earnings that included well-received reports from McDonald's (NYSE:MCD) and Caterpillar (NYSE:CAT).
Traders braced for another round of earnings reports from big names such as Ford (NYSE:F), Boeing (NYSE:BA) and Coca Cola (NYSE:KO), all due to post results ahead of the opening bell.
After the close, Facebook (NASDAQ:FB), PayPal (NASDAQ:PYPL) and Las Vegas Sands (NYSE:LVS) are set to release earnings.
Besides corporate results, market players looked ahead to the conclusion of the Fed's meeting, at which it is widely expected to hold monetary policy steady.
The central bank’s rate statement will be closely scrutinized for hints on the timing of the next rate hike and details of when and how it will start reducing its $4.5 trillion balance sheet. The Fed's comments on inflation will also be in focus.
Wednesday's calendar also includes data on new home sales for June.
Focus will also be on headlines coming out of Washington, where the Senate is expected to continue working to repeal Obamacare. The investigation into U.S. President Donald Trump campaign's ties to Russia will continue to get attention.
Among active pre-market movers, shares of Advanced Micro Devices (NASDAQ:AMD) shot up around 10%. The semiconductor company posted higher-than-expected earnings and revenue after Tuesday's closing bell, as well as providing strong guidance for the next fiscal quarter.
AT&T (NYSE:T)'s shares rose almost 3% ahead of the open after the telecommunications giant beat estimates on its second-quarter earnings report.
Shares of US Steel (NYSE:X) surged nearly 8% after the steel manufacturer announced second-quarter results that easily topped analysts' expectations.
Elsewhere, oil prices posted solid gains as investors looked ahead to the Energy Department's weekly supply report at 10:30AM ET (1430GMT).
U.S. crude was at $48.23 a barrel, up 34 cents, or around 0.7%, while Brent rose 25 cents to $50.45.