US equity futures were edging mostly higher pre-bell Wednesday as traders geared up for the interest rate decision from the Federal Reserve later in the day.
Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.5% lower.
The Federal Open Market Committee's statement following Wednesday's meeting is due for release at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET. There is a 92.5% chance the Fed will raise rates by 0.25%, according to the CME Group FedWatch indicator.
Oil prices declined amid a Reuters report that Saudi Arabia is offering crude oil cargoes via ship-to-ship transfer at Oman's Sohar port. Further, US crude oil, gasoline, and distillate inventories increased last week, according to the report.
The front-month global benchmark North Sea Brent crude was down 1.4% at $107.25 per barrel and US West Texas Intermediate crude was 2.3% lower at $103.40 per barrel.
The August retail sales report, slated for 8:30 am ET, is forecast to show a 0.8% increase following a 0.6% decline in the previous month, according to estimates compiled by Bloomberg.
The August import price index is expected to show a 0.5% month-over-month gain after a 0.4% decrease previously. The export price index is projected to show a 0.6% increase, compared with a prior decline of 1.3%.
The September US housing market index, slated for 10 am ET, is expected at 34, compared with 35 from the prior month.