Stock futures advanced Wednesday as investors monitored the latest updates on U.S. trade negotiations and looked toward the Federal Reserve interest rate announcement expected later in the day. Dow Jones Industrial Average futures added 199 points, or 0.5%. S&P 500 futures popped about 0.4%, along with Nasdaq 100 futures. Disney shares jumped more than 6% after the entertainment giant reported a surprise jump in streaming subscribers and exceeded earnings and revenue expectations. Shares of Uber slid about 4% after the company posted a revenue miss. Futures rose on news that U.S. Treasury Secretary Scott Bessent and top trade official Jamieson Greer would meet with their Chinese counterparts this week in Switzerland. Investors took that as a positive on the trade front after the turbulent market action following President Donald Trump’s tariff announcement last month. “My sense is that this will be about de-escalation, not about the big trade deal,” Bessent later told Fox News. “But we’ve got to de-escalate, before we can move forward.” That action comes as investors gear up for the Fed’s interest rate decision slated for 2 p.m. ET. Fed funds futures are pricing in a nearly 97% likelihood that the central bank holds the borrowing rate steady, according to CME’s FedWatch tool. Traders will monitor Fed Chair Jerome Powell’s post-decision press conference for insights on where rates could go moving forward. It comes at a precarious moment for the central bank leader after being the target of criticism from Trump, who has said his “termination cannot come fast enough.” At one point, White House economic advisor Kevin Hassett said the team would “study” whether Powell could be fired, though Trump later said he has “no intention” of removing the Fed chief. The Fed meeting also comes as market participants contend with concerns that Trump’s plan for levies could push inflation higher, complicating the central bank’s plan for interest rates. “If traders wish to believe that the Fed will come to the rescue of the world tomorrow and assuage the recent rise in policy uncertainty and political uncertainty with a signal of overt ‘dovishness’, they should think again,” said Thierry Wizman, global foreign exchange and rates strategist at Macquarie. Tuesday night’s moves follow a losing day on Wall Street. The Dow lost nearly 390 points, or 1%. The S&P 500 and Nasdaq Composite slid about 0.8% and 0.9%, respectively. U.S. Treasury yields were little changed on Wednesday as investors awaited the Federal Reserve’s interest rate decision and welcomed upcoming trade discussions between the U.S. and China. The 10-year Treasury yield was less than 1 basis point lower at 4.312%. The 2-year Treasury yield was up 2 basis points at 3.808%. Asia-Pacific stocks mostly climbed after China’s central bank and financial regulators announced sweeping plans to cut key interest rates in an effort to shore up growth in the face of trade worries. Hong Kong’s Hang Seng index rose 0.5% while mainland China’s CSI 300 climbed 0.61% to close at 3,831.63. Japan’s benchmark Nikkei 225 lost 0.14% to close at 36,779.66 while the Topix rose 0.31% to close at 2,696.16. South Korea’s Kospi added 0.55% to close at 2,573.8 while the small-cap Kosdaq lost 0.13% to close at 722.81. Australia’s benchmark S&P/ASX 200 climbed 0.33% to close at 8,171.3. Oil prices rose on Wednesday on signs of weakening production in the U.S. and higher demand in Europe and China as buyers emerged after prices fell to new lows earlier in the week. Brent crude futures gained 41 cents a barrel, or 0.6%, to $62.56 a barrel, while U.S. West Texas Intermediate crude was at $59.59 a barrel, up 50 cents, or 0.9%. Both benchmarks had plunged to a four-year low after OPEC+’s decision to speed up output increases, which stoked fears of oversupply at a time when U.S. tariffs have spurred concerns about demand. However, lower oil prices in recent weeks have prompted some U.S. energy firms like Diamondback Energy and Coterra Energy to announce that they would cut some rigs, which analysts said should over time increase prices by reducing output. Gold prices fell more than 1% on Wednesday as hopes around trade talks between the United States and China weighed on the safe-haven metal ahead of a Federal Reserve rates decision later in the day. Spot gold was down 1.2% at $3,388.49 an ounce as of 1141 GMT, after a sharp rise in the previous session. U.S. gold futures lost 0.8% to $3,396.70.