U.S. stock futures trade higher with S&P 500, Dow ends lower. On Wednesday, stock futures rose in early morning trading after the major averages closed down.
Dow Jones Industrial Average futures jumped 96 points. S&P 500 futures and Nasdaq 100 futures both were in positive territory.
During regular trading, the Dow dropped 50.63 points or 0.15%. The S&P 500 lost about 0.1% following its worst day since May on Monday. The Nasdaq Composite surged 0.2%
The Federal Reserve will end its two-day meeting on Wednesday and set to reveal a policy statement with economic and interest rate forecasts. Chairman Jerome Powell will speak to the media at 2:30 p.m. ET.
The Dow and S&P were expected to break a three-day losing streak in the late afternoon but reached down, ending in the red for the fourth day in a row and the fifth of the past six sessions. The Dow fell 4% in and the S&P tumbled 3.7%.
Investors waiting to hear when the central bank begin reducing the rate of its monthly bond purchases. Chairman Jerome Powell has previously said it could begin as soon as this year, but that may not happen, however.
“I think they’re going to the layout that they had a discussion on tapering. I don’t think they’re going to provide any details,” BlackRock chief investment officer of global fixed income Rick Rieder said. “I think they’re going to provide a framework where they can start doing it in November or December.”