Wall Street is heading into a high-stakes trading day on Wednesday with a sense of caution, as Dow Futures suggest a muted start as investors look ahead to major events. The big focus is on two things: the Fed’s interest rate decision and earnings from Microsoft and Meta after the bell.

Wall Street ticked quietly higher ahead of the opening bell as markets absorbed another spate of corporate earnings reports while waiting to see what the Federal Reserve will do with its benchmark interest rate.

U.S. stock indexes are drifting on Wednesday after the Federal Reserve decided to keep interest rates where they are, a move that could upset President Donald Trump but was one that Wall Street was widely expecting.