Wall Street looked set to open near the flatline on Wednesday as the U.S. Federal Reserve kicks off a two-day meeting that could end with its first interest rate hike in almost a decade.
Thursday's Fed rate decision is perhaps one of the most highly anticipated in some time, with investors waiting to see whether an improving labor market will encourage the central bank to lift record low interest rates or recent volatility in global markets means it holds its fire for a bit longer.
One of the last data points out ahead of the Fed meeting, August CPI, showed a decline of 0.1 percent. The ex-food and energy figure rose 0.1 percent.
Treasury yields ticked slightly lower from highs hit Tuesday, with the 2-year briefly falling to 0.78 percent and the 10-year near 2.27 percent.
The U.S. dollar reversed to trade lower against major world currencies, with the euro near $1.128 and the yen around 120.5 yen against the greenback.
Other data out this session include the September NAHB Housing Market Index at 10:00 a.m. ET.