U.S. futures higher ahead of Fed statement; Dow Jones up 0.05%

U.S. stock futures pointed to a higher open on Wednesday, as markets continued to eye the outcome of the Federal Reserve's monthly policy meeting later in the day. 

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.05% gain, S&P 500 futures signaled a 0.07% rise, while the Nasdaq 100 futures indicated a 0.21% increase. 

Investors remained cautious amid growing expectations that the Fed will to start to unwind its USD85 billion-a-month bond purchasing program later this year.

In May, Fed Chairman Ben Bernanke said the bank could begin to taper asset purchases if the economy continued to improve.

Market participants were looking ahead to the central bank’s rate statement on Wednesday amid uncertainty over the banks next move. 

Tech stocks were expected to be active, after Carl Icahn suggested that shareholders tender an offer on 1.1 billion Dell shares, as an alternative to Michael Dell and Silver Lake Partners's proposal to take the company private. 

Among Internet-related companies, Google shares dipped 0.01% in after-hour trade as the company urged the Foreign Intelligence Surveillance Court for permission to publish the aggregate numbers and scope of national security requests it receives from the U.S. government.

Separately, Google, currently on the lookout for acquisitions, was said to be for the first time considering forging alliances with private-equity firms to help it structure deals. 

Auto stocks were also likely to be in focus, after Chrysler agreed to recall 2.7 million Jeeps on Tuesday when a government safety watchdog said they could potentially ignite if rear-ended. 

Shares in DreamWorks Animation were up 1.81% in extended trading, after Chief Executive Officer Jeffrey Katzenberg said the company will generate USD100 million in TV production revenue this year, lessening the company’s dependence on films. 

Elsewhere, Dish Network said late Tuesday that it would not make a new offer to buy Sprint Nextel, and would instead focus on its tender offer for Clearwire. 

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 added 0.28%, France’s CAC 40 edged up 0.20%, Germany's DAX climbed 0.55%, while Britain's FTSE 100 inched 0.05% higher. 

During the Asian trading session, Hong Kong's Hang Seng Index tumbled 1.13%, while Japan’s Nikkei 225 Index surged 1.83%.