Dow futures message higher as investors expect Fed meeting

US Stock Exchange futures were marginally higher on Wednesday morning, as investors are waiting to hear from the Federal Reserve mayor Jerome Powell.

At 1:30 am, ET, Dow futures increased 10 points, suggesting a positive open of more than 33 points. Futures at S & P and Nasdaq were both slightly higher as well.

There is a particular focus on the outcome of the Federal Reserve meeting on Wednesday. Not only are traders eager to understand the chances of price reductions this year, but they are also interested in knowing whether President Donald Trump has any influence on the central bank.

The US President asked on Tuesday whether he would remove Jay Powell from his position, saying, "Let's see what he's doing." This comes after a Bloomberg News report claimed the White House was looking to demote the Fed chairman back in February. Larry Kudlow, director of the National Economic Council, told reporters on Tuesday that Trump is not planning to demote Powell.

Earlier in the day, President Trump had accused ECB President Mario Draghi of currency impact, following the latter speech at a conference proposing that the European Central Bank be able to provide more stimulus if inflation does not recover in the eurozone. Draghi responded later and said that the central bank's task is clear. "Our mandate is price stability defined as a near-inflation rate but below 2% in the medium term," Draghi said.

At the same time, President Trump said he will have an extended meeting next week with the Chinese leader at the G20 meeting in Japan.

There are no data records to be noted on Wednesday.

In terms of corporate earnings, Oracle and Winnebago will update investors.