U.S. stock index futures were pointing to a higher open Wednesday morning, as market participants prepared for another day of corporate earnings and waited to hear from the Federal Reserve.
At around 02:30 a.m. ET, Dow futures rose 99 points, indicating a positive open of more than 111 points. Futures on the S&P and Nasdaq both suggested a higher open too.
Wall Street closed higher on Tuesday on the back of earnings. This is set to remain a key focus for traders Wednesday, with GlaxoSmithKline, CME Group, Qualcomm and Fitbit due to report.
On the data front, there will be ADP payrolls at 8.15 a.m. ET; manufacturing PMIs due at 9.45 a.m. and constructions spending figures released at 10 a.m. ET.
However, there’s a special focus on the Federal Reserve, with Chairman Powell due to address the press at 2 p.m. ET.