U.S. equity futures were mixed on Wednesday as investors awaited a rate policy decision from the Federal Reserve due Wednesday and earnings reports from mega-cap technology companies. S&P 500 futures added 0.2%, and Nasdaq-100 futures rose 0.3%. Dow Jones Industrial Average futures were down 21 points, or 0.04%. Focus will turn to domestic monetary policy as the Fed wraps up its two-day policy meeting. The central bank is widely predicted to keep interest rates steady at a target rate range of 3.75% to 4%. Policymakers raised rates by a quarter percentage point at their September meeting. According to CME’s FedWatch tool, there’s a roughly 90% chance that the Fed maintains the current interest rate, but some expect that Chairman Kevin Warsh will signal that more hikes are coming in future policy meetings. The decision on interest rates will be announced at 2 p.m. ET. U.S. chipmakers moved higher in premarket trading Wednesday, buoyed by SK Hynix posting record quarterly profit—a development that sent U.S. shares of the South Korean chipmaker up nearly 8%. Micron Technology was up 4%, while Arm Holdings advanced 2%. Intel and Marvell Technology each added almost 2%, as did Advanced Micro Devices. Investors’ attention will remain on the artificial intelligence trade after the bell, as “Magnificent Seven” giants Alphabet and Microsoft will kick off Big Tech earnings. The former was last seen up more than 1%, while the latter was down marginally. Tech stocks, particularly those with exposure to the AI buildout, have struggled in recent weeks amid questions over the technology’s financing. However, Morgan Stanley’s chief U.S. equity strategist, Mike Wilson, thinks that the recent recovery in tech stocks is a sign that the trend may be nearing its end. “Most of the correction is already over,” he said in an appearance on CNBC’s “Closing Bell” on Tuesday. “We’ve been in correction mode for four or five months… the market I think has digested this very efficiently.” Treasury yields moved higher as investors awaited the Federal Reserve’s latest monetary policy decision, due later in the session. The 10-year Treasury note yield—the main benchmark for mortgages, auto loans, and credit card debt—was more than 1 basis point higher at 5.0092% by 5:40 a.m. E.T. The yield on the 2-year Treasury note, which more closely follows short-term Federal Reserve rate decisions, was flat at 4.7453%. The yield on longer-dated 30-year U.S. Treasurys—which tend to move on geopolitical events—was up by more than 1 basis point at 5.3157%. In Asia, Japan’s Nikkei 225 closed 1.08% higher, and South Korea’s Kospi rose 6.63%. Australia’s benchmark S&P/ASX 200 was flat. Mainland China’s CSI 300 closed 0.85% higher. Oil prices climbed Wednesday as investors weighed the prospect of a prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia’s largest refinery. International benchmark Brent crude futures rose 1% to $115.07 per barrel, while U.S. West Texas Intermediate crude futures gained 1.8% to $101.72 per barrel. Gold prices edged lower on Wednesday, as ​inflation worries simmered over ​high oil prices ​and investors awaited the Federal Reserve’s policy decision later in the day. Spot gold eased 0.1% to $4,055.59 per ounce after gaining about 1% in ⁠the ‌previous session. U.S. gold futures for December delivery ⁠dropped 0.1% to $4,070.20 per ounce.