U.S. stock futures were higher on Wednesday morning as traders looked ahead to the Federal Reserve’s December interest rate decision. Futures linked to the Dow Jones Industrial Average added 116points, or 0.3%. On Tuesday, the Dow slipped 267.58 points, or 0.61%, for a nine-day losing streak, its longest since 1978. S&P 500 futures added 0.3%, while Nasdaq 100 futures inched up 0.2%. The Dow’s worst funk in 46 years was mostly caused by a rotation out of old economy shares and into technology stocks, a sector that the century-old measure underweights compared to broader market metrics. Despite the streak, the Dow sits less than 4% from an-all time high. Other measures of the market are doing fine this month with the S&P 500 in the green for December and sitting about 1% from an all-time high. The Nasdaq is up 4.6% this month as investors flooded into to tech shares, while shunning the Dow. The Fed’s policy decision is due at 2:00 p.m. ET. Fed funds futures trading currently shows a 95% chance that the central bank will cut interest rates by a quarter percentage point, according to the CME FedWatch tool. Investors will also be paying close attention to Fed policymakers’ Summary of Economic Projections and Fed Chair Jerome Powell’s press conference, seeking clues about what might happen in the months ahead. The central bank is widely expected to temper expectations of more rate cuts in the approaching year, particularly as inflation remains stubborn. “I think we’ll get a cut … but I think the language and the tenor will probably be as hawkish as we’ve seen from Powell in a while,” said Ross Mayfield, investment strategist at Baird. “While they’re not going to act on policy that hasn’t yet been made, I think that they will be a little hesitant to commit to, say, four-plus rate cuts in 2025 when there’s so much unsettled.” In turn, hawkish commentary on Wednesday could tee up stocks for a selloff. But Mayfield added he was optimistic that volatility around Fed meetings usually doesn’t linger for very long. “We’ve seen some big moves on days where the Fed has announced a policy change and how it spoke — and these were either reversed later on, or gains were given back or losses cut later on. So I’m not overly worried about what happens in the immediate aftermath tomorrow,” he added. Nvidia, which fell into correction territory earlier this week, was bouncing in premarket trading Wednesday, up nearly 3%. Nvidia entered the Dow last month. Broadcom, the chip stock seeing big inflows this month as investors dumped Nvidia, was lower in early trading Wednesday. U.S. Treasury yields were slightly higher on Wednesday, as investors awaited the Federal Reserve’s latest interest rate decision and guidance on the outlook for the American economy and monetary policy from the central bank. The yield on the 10-year Treasury was up by two basis points to 4.40%. The 2-year Treasury Asia-Pacific markets traded mixed on Wednesday, following losses on Wall Street and ahead of the Federal Reserve’s rate decision. Japan’s benchmark Nikkei 225 ended the session 0.72% lower at 39,081.71. The broad-based Topix fell 0.31% to close at 2,719.87. Meanwhile, South Korea’s Kospi gained 1.12% to reach 2,484.43, while the small-cap Kosdaq jumped 0.45% to 697.57. Australia’s S&P/ASX 200 traded down 0.06% to end the day at 8,309.4. Hong Kong’s Hang Seng index ticked up 0.95% in its final hour of trade to reach 19,880. Mainland China’s CSI 300 was up 0.51% to end at 3,941.89. Oil prices traded in a narrow range early on Wednesday as investors remained cautious ahead of an expected interest rate cut by the U.S. Federal Reserve. Brent futures inched up 12 cents, or 0.16%, to $73.31 a barrel by 0134 GMT, while U.S. West Texas Intermediate crude rose 11 cents, or 0.16%, to $70.19 a barrel. Gold prices edged higher on Wednesday as attention turned to the Federal Reserve’s upcoming monetary policy decision, with the U.S. central bank anticipated to implement a third rate cut this year and provide insights into its plans for 2025. Spot gold nudged 0.1% higher to $2,648.43 per ounce by 0237 GMT. U.S. gold futures were flat at $2,663.20.