Futures Slightly Higher as Investors Approach the Day with Caution Before the FOMC Announcement

U.S. stock futures are higher. Futures are slightly higher as investors approach the day with caution before the FOMC (Federal Open Market Committee) announcement at 2 PM. The Fed is expected to increase rates by 25 basis points and attention will be on Chairman Powell's remarks at 2:30 PM for clues about the rate hike trajectory. Meanwhile, treasury yields are starting the day lower. The Fed meeting coincides with a busy week for earnings and other economic data, including the release of PMI and ISM services data for April shortly after the market opens. The week will conclude with the release of the April jobs report on Friday morning. Looking at international markets, Asian markets closed mixed while European markets are on the rise. Crude prices are experiencing heavy pressure, the dollar is weakening, and gold remains relatively stable.