U.S. futures edge higher ahead of Fed statement; Dow Jones up 0.27%

Investing.com - U.S. stock futures pointed to a higher open on Wednesday, as investors eyed the conclusion of the Federal Reserve's tow-day policy meeting, while concerns over the euro zone debt crisis persisted.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.27% rise, S&P 500 futures signaled a 0.35% increase, while the Nasdaq 100 futures indicated a 0.32% gain.

Sentiment remained under pressure after preliminary data showed that manufacturing activity in the euro zone contracted at a faster-rate-than-expected in October, shrinking for the 14th consecutive month.

Markit said that its preliminary manufacturing purchasing managers’ index fell to a seasonally adjusted 45.3 in October from a final reading of 46.1 in September. Analysts had expected the index to ease up to 46.6 in October.

A separate report showed that German business confidence in October deteriorated to the lowest level since March 2010.

The chemical sector was expect to be active after Dupont warned that demand would be weaker going forward. Shares were down 0.22% in pre-market trade.

Separately, Chemical Co, the largest chemical maker in the U.S., said on Tuesday it plans to cut 5% of its workforce and shut 20 plants as part of a restructuring program aimed at countering a slowing global economy.

Elsewhere, Facebook saw shares surge 16.82% pre-market, after the social media giant reported on Tuesday that sales rose 32% to USD1.26 billion in the third quarter, compared with the average estimate of USD1.23 billion.

Also in the Internet field, social-game maker Zynga said it will cut 5% of its workforce, shut offices and end more than a dozen titles to compensate for slowing sales growth. The news sent shares climbing 5.45% in early trading.

Netflix, the world’s largest online video service, plunged 16.37% on the other hand, as domestic streaming growth missed analysts’ projections.

Other stocks in focus included Boeing,AT&T, Kimberly-Clark and Bristol-Myers Squibb, all due to report earnings later in the day.

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.43%, France’s CAC 40 advanced 0.45%, Germany's DAX rose 0.30%, while Britain's FTSE 100 added 0.22%.

During the Asian trading session, Hong Kong's Hang Seng Index rose 0.31%, while Japan’s Nikkei 225 Index dropped 0.67%.

Also Wednesday, data showed that China's HSBC manufacturing purchasing managers' index came in at 49.1 in October, compared with a final reading of 47.9 in September.

Later in the day, the Federal Reserve was to announce its benchmark interest rate and release its first monetary policy statement since the central bank announced a third round of quantitative easing in September. The U.S. was to release official data on new home sales.