Futures tied to the Nasdaq gained on Wednesday as semiconductor-related stocks rose after chip equipment maker ASML's quarterly orders topped estimates, with focus also on a raft of company results and the Federal Reserve's rate verdict later in the day.

Major averages drift lower on Wednesday, as investors turned their focus to the upcoming interest rate decision, and big tech earnings slated for later in the day. Early on and the S&P 500 (SP500) was -0.

The Federal Reserve's interest rate decision is due out later this afternoon Stock futures are struggling for direction ahead of the Federal Reserve's first interest rate decision of 2025, due out at 2 p.