Stock futures trade mixed ahead of Fed decision

Wednesday morning will feature earnings from two Dow members - Boeing and McDonald's

U.S. equity futures were trading mixed ahead of Wednesday's opening bell on Wall Street.

The major futures indexes suggested a decline of 0.2% on the Dow.

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Traders will be focused on the meeting of the Federal Reserve Board that began Tuesday and was expected to bring an update on when the U.S. central bank might start to reduce bond purchases that inject money into financial markets and keep interest rates low.

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Investors also were uncertain how much farther China will go with a regulatory crackdown that set off a slide in its internet share prices.

Wednesday morning will feature earnings from two Dow members: Boeing and McDonald's.

The morning will also feature reports from a slew of health care-related firms, including Humana, Pfizer, Bristol-Myers and Teva Pharmaceutical.

Facebook and Ford will be in the afternoon spotlight.

In Europe, London's FTSE added 0.4%, Germany's DAX gained 0.3% and France's CAC jumped 0.9%.

In Asia,  the Nikkei 225 in Tokyo fell 1.4%, the Hang Seng in Hong Kong gained 1.5% and China's Shanghai Composite Index lost 0.6%, declining for a third day,

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34798 +33.18 +0.10%
SP500 S&P 500 4455.48 +6.50 +0.15%
I:COMP NASDAQ COMPOSITE INDEX 15047.699032 -4.54 -0.03%

On Wall Street, the benchmark S&P 500 fell 0.5% to 4,401.46, snapping a five-day streak of gains. The Dow Jones Industrial Average dropped 0.2% to 35,058.52. The Nasdaq lost 1.2% to 14,660.58.

Three tech companies — Apple, Microsoft and Google owner Alphabet – reported after-the-bell results.

Apple’s profit and revenue for the April-June period easily exceeded analyst estimates. The Cupertino, California, company earned $21.7 billion, or $1.30 per share, nearly doubling profits earned during the same period last year. Revenue surged 36% to $81.4 billion.

Powered by Google, Alphabet earned $18.53 billion, or $27.26 per share, during the quarter, a nearly threefold increase from last year’s earnings of $6.96 billion, or $10.13 per share. Google’s advertising revenue soared 69% to $50.44 billion thanks to what CEO Sundar Pichai called a "rising tide" of online activity among consumers and businesses.

Microsoft reported fiscal fourth-quarter profit of $16.5 billion, up 47% from the same period last year. Net income of $2.17 per share beat Wall Street expectations. The software maker also topped forecasts by posting revenue of $46.2 billion in the quarter that ended on June 30, a 21% increase over the same time last year.

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In energy markets, benchmark U.S. crude rose 27 cents to $71.92 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude oil, the basis for international oil prices, advanced 16 cents to $74.65.

The Associated Press contributed to this report.