Stock futures rose slightly ahead of the Fed's policy decision, while Bitcoin and crypto-linked stocks like Coinbase and Robinhood retreated following the Senate's rejection of the Clarity Act.
Dow futures edged up cautiously ahead of the Fed rate decision, with markets pricing in a 92% chance of a hike.
S&P 500 futures rose modestly as investors awaited the Fed's policy announcement and dot plot.
Nasdaq-100 futures gained slightly, reflecting tentative optimism in tech ahead of the Fed decision.
Bitcoin fell as the Senate blocked the Clarity Act, dimming hopes for a US crypto regulatory framework.
Brent crude remained above $100/barrel, sustaining inflation concerns despite a pause in its rally.
WTI crude held above $100, contributing to worries about stubbornly high inflation.
Robinhood shares declined alongside Bitcoin as crypto regulatory hopes faded.
Coinbase stock fell in sympathy with the broader crypto sell-off after the Clarity Act vote.
Nvidia CEO Jensen Huang argued against AI regulation, drawing attention but with limited immediate market impact.
Lennar Corporation was noted in the earnings calendar without any market-moving details.
US stock futures posted modest gains on Wednesday as investors braced for a widely expected Federal Reserve interest rate hike. Markets are pricing in a 92% probability of a rate increase, while persistent inflation concerns and a Senate vote blocking the Clarity Act continue to weigh on crypto assets and related equities.
Investors are primarily focused on the Federal Reserve's interest rate decision, the release of the central bank's dot plot, and Chairman Kevin Warsh's upcoming press conference.
Crypto assets fell after the US Senate failed to pass a procedural vote for the Clarity Act, which would have established a formal regulatory framework for digital assets.