Wall Street Leans Forward Pre-Bell; Futures Green, Europe Higher, Asia Choppy

Wall Street was leaning forward pre-bell Wednesday with broad-market futures solidly above Tuesday's closes, as traders await the 2 pm release of policy decisions from the Federal Reserve. Chairman Jerome Powell will meet the press at 2:30 pm.

In the futures, the S&P 500 rose 1.3%, the Nasdaq inclined 1.9% and the Dow Jones was up 0.9% before the start of trading.

Asian exchanges traded mixed overnight, while European bourses were rallying at midday.

Microsoft MSFT is up 4.0% pre-bell after reporting earnings late Tuesday, reversing an initial slump in the stock.

Abbott Laboratories ABT, AT&T T, Boeing BA and Anthem (ANTM) plan to report earnings pre-bell, among others.

On the economic calendar is the weekly MBA's index of mortgage applications at 7 am ET, followed by the advance report on US international trade in goods for December at 8:30 am. The December wholesale inventories bulletin will also be released at 8: 30 am.

December new home sales post at 10 am, followed by the EIA's weekly report on domestic petroleum inventories at 10:30 am. The Atlanta Fed's survey of business uncertainty for January posts at 11 am.

In pre-market action, Bitcoin traded at $37,844, West Texas Intermediate crude oil traded higher at $86.14, and 10-year US Treasuries offered 1.79%. Gold traded higher for $1,847 an ounce.