Stock futures rise as Apple increases earnings

US Stock Exchange futures pointed to a higher open Wednesday as investors digested quarterly results from apples while waiting for the end of a Federal Reserve meeting.

around 7 am ET, Dow Jones Industrial Average futures indicated a gain of 74 points on open. Futures on the S & P 500 and Nasdaq 100 both suggested a higher open as well.

Apple stocks rose more than 5% in the premarket after previous quarter's revenue and revenue hit expectations. Technical giant's guidance for the next quarter was also better than expected.

Advanced Micro Devices and Mondelez also received 5.3% and 0.9%, respectively, after adding better than expected results.

Wall Street is also looking forward to an announcement from the Fed on monetary policy. The central bank is largely expected to keep prices stable, but investors will look for clues about what the Fed is thinking about inflation and where the economy goes.

The US economy grew at an annual rate of 3.2% in the first quarter, easily surpassing expectations. However, inflation remains subdued.

At the data front, there will be ADP payrolls at 8:1[ads1]5. ET; Production PMI is due at 9.45, and construction costs figures at 10:00 ET.

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