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NEW YORK (CNNMoney)
U.S. stock futures climbed, matching gains across global markets. The Fed is due to release a statement at 2 p.m. E.T. following a two-day policy meeting.
Investors will parse the text for clues as to when the central bank may begin scaling back, or tapering, its $85 billion monthly bond buying program. Many expect current stimulus efforts will be maintained over the short term to support the U.S. economy.
The stimulus measures have helped buoy global markets - with the Dow Jones Industrial Average and S&P 500 trading at record highs.
Related: Fear & Greed Index
Elsewhere on the economic front, payroll processor ADP releases its monthly report on private-sector job growth at 8:15 a.m. The Bureau of Labor Statistics issues the September edition of the Consumer Price Index, the government's key metric for inflation, at 8.30.
Earnings season continues in full swing. General Motors (GM, Fortune 500), Chrysler, Sprint (S, Fortune 500) and Comcast (CCV) are due to report quarterly results before the opening bell, while Facebook (FB, Fortune 500) and Expedia (EXPE) are up in the afternoon.
Yelp (YELP) shares plunged in after-hours trading Tuesday after the review site reported a wider-than expected quarterly loss and announced plans for a follow-on stock offering.
Shares of Electronic Arts (EA) jumped 3.6% in after-hours trading after the video game maker's quarterly earnings beat expectations.
Chinese web search giant Baidu (BIDU) stock also rose after the company offered strong guidance.
European markets moved higher in morning trading on Wednesday. Both the FTSE 100 in London and the CAC 40 in Paris advanced 0.6%.
Asian markets ended with sizable gains, with Hong Kong's Hang Seng climbing 2% and the Shanghai Composite index up 1.5%. A weaker yen helped push Japan's Nikkei up 1.2%.
First Published: October 30, 2013: 6:31 AM ET
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