U.S. stock futures fell Wednesday as investors weighed a batch of corporate earnings from major technology names and geared up for the Federal Reserve’s latest interest rate decision. Futures tied to the Dow Jones Industrial Average slipped 64 points, or 0.19%. S&P 500 futures fell 0.17%, while Nasdaq-100 futures slid nearly 0.26%. Google-parent Alphabet rose more than 7% as cloud revenue growth helped propel the company to a better-than-expected quarter. On the other hand, Microsoft slid more than 3% after reporting slowing cloud revenue growth. Outside of Big Tech, Snap tumbled 17% after giving weak guidance for current-quarter performance. Elsewhere, Dow components Boeing and Coca-Cola rose after reporting earnings beats. Boeing gained more than 3% after reporting a second-quarter beat following a rise in commercial aircraft deliveries. Coca-Cola added more than 1% after the soft drink company raised its full-year outlook. AT&T gained more than 1% after beating second-quarter free cash flow estimates. A slate of recent data suggesting easing inflation has investors riding a wave of optimism the Federal Reserve will be done hiking rates after its July meeting. The CME Group’s FedWatch Tool is showing a 98% likelihood policymakers will raise rates by a quarter percentage point at the conclusion of their Wednesday meeting. However, some market participants urge caution against the view the central bank is “one and done.” ″[Investors] should beware of becoming too optimistic that today will mark the end of the rate-hiking cycle, in our view,” UBS’ Solita Marcelli said in a Wednesday note. Wall Street notched a winning day Tuesday. After eking out a gain just shy of 0.1%, the Dow clinched its 12th-straight winning session, a streak not seen for the blue-chip average since February 2017. The S&P 500 and Nasdaq Composite finished about 0.3% and 0.6% higher, respectively. Beyond the interest rate decision, investors will continue following the latest corporate financial releases on Wednesday. Meta, Chipotle and Mattel’s earnings are slated to drop after the market closes. Asia-Pacific markets were largely down as investors brace for the U.S. Federal Reserve’s rate decision on Wednesday. In Australia, the S&P/ASX 200 climbed 0.78% and closed at 7,396.8, its highest point since Feburary 2023. Australia’s inflation rate on an annual basis grew 6% in the June quarter, slower than the 7% seen in the first quarter, official data showed. South Korea’s Kospi led losses in the region and fell as much as 2%, dragged by tech and consumer services stocks. The index eventually ended the day 1.67% lower and closed at 2,592.36, while the Kosdaq saw a larger loss of 4.18% and finished at 900.63. In Japan, the Nikkei 225 was down marginally, extending its losses from Tuesday and closing at 32,668.34, while the Topix also sunk 0.1% to end at 2,283.09. Hong Kong’s Hang Seng index retreated from Tuesday’s rally and inched down 0.31%, while mainland Chinese markets also all fell. The Shanghai Composite was down 0.26% and closed at 3,223.02, while the Shenzhen Component lost 0.48% to end at 10,968.98. Oil prices drifted near three-month highs on Wednesday, with investors cautious ahead of an expected Federal Reserve rate hike later in the day and a spike in U.S. crude supplies. Brent crude futures slipped 70 cents to $82.94 a barrel, while U.S. West Texas Intermediate (WTI) crude was at $78.91, down 72 cents. Both hit three-month highs on Tuesday. Oil prices have been rallying for four weeks, with investors buoyed by signs of tighter supplies, namely output cuts by the Organization of the Petroleum Exporting Countries (OPEC) and allies, as well as pledges by Chinese authorities to shore up the world’s second-biggest economy. Gold struggled for momentum on Wednesday as traders refrained from making big bets ahead of the U.S. Federal Reserve’s policy decision later in the day. Spot gold held steady at $1,963.99 per ounce by 0546 GMT, while U.S. gold futures were up 0.1% to $1,965.20.