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* Futures: Dow up 0.8%, S&P climbs 1%, Nasdaq rises 2%
Jan 26 (Reuters) – U.S. stock futures rose on Wednesday,
with a surge in Microsoft lifting Nasdaq 100 futures, while
investors keenly awaited the Federal Reserve’s monetary policy
decision later in the day.
The move comes after two days of wild swings, driven by
uncertainty about the Fed’s next move and rising worries about
geopolitcal tensions around Russia and Ukraine.
At the close of its two-day meeting, the U.S. central bank
is likely to signal the start of an interest rate hike cycle
beginning March in an attempt to fight a surge in inflation.
The Fed decision is due at 2 p.m. ET (1900 GMT) followed by
Fed chairman Jerome Powell’s news conference, which will be
parsed for clues on the magnitude and pace of hikes for the
year.
Microsoft Corp jumped 3.2% in premarket trading as
the tech giant forecast revenue for the current quarter broadly
ahead of Wall Street targets.
Futures tied to Nasdaq 100 jumped 2%. S&P 500 futures
were up 1.1%, while Dow Jones futures climbed
0.8%.
(Reporting by Susan Mathew in Bengaluru; Editing by Maju
Samuel)
