U.S. stock futures edged higher Wednesday as investors braced for a Federal Reserve interest rate decision widely expected to deliver the central bank's first hike since 2023. The S&P 500 futures gained 0.2%, with Nasdaq-100 futures climbing 0.4%. Dow Jones Industrial Average futures added 77 points, a gain of 0.2%. The 10-year Treasury yield was hovering near 5%, and the 30-year stood at 5.374%. According to the CME FedWatch tool, traders assigned 92.5% probability to a quarter-point hike at Wednesday's 2 p.m. ET decision. Markets put the chances of another quarter-point increase at 45% for October and 30% for December. The current target rate range is 3.5% to 3.75%.
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