Dow Jones futures stay firm ahead of Fed policy decision, tech giants results

• Dow Jones futures move little amid market caution ahead of the Fed interest rate decision.
• S&P 500 and Nasdaq 100 futures advance as Nvidia shares gain in pre-market trading.
• Traders await earnings reports from the "Magnificent Seven" tech giants, with Alphabet, Meta, and Microsoft due on Wednesday.

Dow Jones futures hold firm above 47,850 during European hours, with the S&P 500 futures and Nasdaq 100 futures gaining 0.27% and 0.48%, trading around 6,950 and 26,300, respectively, ahead of the opening of the United States (US) regular session on Wednesday.

US index futures show mixed performance as traders await the US Federal Reserve's (Fed) policy decision due later in the North American session. The Fed is widely expected to lower interest rates by another quarter point, bringing the benchmark rate to 3.75-4.00%, at its October meeting.

Traders will be looking forward to any signals from Fed Chair Jerome Powell's speech at the post-meeting conference regarding the pace of future easing. The October CNBC Fed Survey also indicates that the Fed could implement additional rate reductions over the next two meetings.

US stock futures also gained support from renewed enthusiasm over artificial intelligence, as Nvidia shares rose 2.79% in pre-market trading at the time of writing, extending gains after Tuesday's record 4.98% surge after announcing partnerships with the US government, Oracle, Uber, and Eli Lilly, among others. President Trump also mentioned plans to discuss Nvidia's Blackwell chips with Chinese President Xi Jinping.

Market sentiment gains after China's state-owned COFCO purchased three soybean cargoes from the United States ahead of the upcoming meeting between Presidents Donald Trump and Xi Jinping in South Korea due on Thursday. President Trump also expressed optimism that the meeting with Chinese President Xi would result in a "great deal" for both nations.

In Tuesday's regular US session, Wall Street hit new all-time highs, with the Dow Jones rising 0.34%, the S&P 500 gaining 0.23%, and the Nasdaq 100 advancing 0.8%. Traders now await earnings from the "Magnificent Seven" tech giants, including Alphabet, Meta, and Microsoft are set to report on Wednesday, followed by Apple and Amazon on Thursday.