Stock futures struggle for direction as traders await Fed comments

U.S. stock futures pointed to a mixed open on Wednesday as investors absorbed results from Microsoft and Alphabet, and focus turned to the Federal Reserve policy decision later in the day.

How are stock-index futures trading On Tuesday, the Dow Jones Industrial Average DJIA rose 27 points, or 0.08%, to 35438, the S&P 500 SPX increased 13 points, or 0.28%, to 4567, and the Nasdaq Composite COMP gained 86 points, or 0.61%, to 14145. Consequently, it is the Fed’s accompanying statement and comments from Chair Jerome Powell at his press conference, starting at 2:30 p.m., that will carry the greater heft, as investor seek guidance on the future trajectory for borrowing costs.

Meanwhile, also contributing to the market’s relative stasis on Wednesday were counteracting reactions on the earnings front.

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