Update: US Equity Futures Slightly Higher Pre-Bell as Traders Await Fed Rate Decision, Big Tech Earnings

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)

US equity futures were slightly higher pre-bell Wednesday as traders awaited the Federal Reserve's interest-rate decision and corporate earnings from several Big Tech companies.

Dow Jones Industrial Average futures were flat, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.4% higher.

The Federal Reserve's monetary policy committee is set to announce its decision on the rate policy at 2 pm ET, followed by a press briefing led by Federal Reserve Chair Kevin Warsh. The CME FedWatch tool showed that the probability of the Federal Reserve raising its target rate by 25 basis points in October is at 9.4%.

US Energy Secretary Chris Wright said the US could allow more Russian diesel shipments onto the global market under the US sanctions waiver, depending on the actions of Russia's government, according to a CNBC report late Tuesday.

Traders also digested the latest round of earnings, with GE Vernova (GEV) reporting higher Q3 earnings and revenue.

Microsoft (MSFT) and Alphabet (GOOG, GOOGL) are expected to report their fiscal Q1 and Q3 financial results, respectively, after the market closes.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $111.28 per barrel and US West Texas Intermediate crude 1.9% higher at $101.83 per barrel.

The US advance international trade in goods deficit widened to $134.9 billion in September from $132.07 billion in August, compared with expectations to narrow to $130.2 billion in a survey compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 1.1% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 0.9% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.

In equities, SK hynix (SKHY) stock rose 7% after the company reported higher earnings and revenue for Q3. Vertiv (VRT) shares were up more than 15% after the company posted Q3 adjusted earnings and revenue that surpassed analysts' consensus.

On the losing side, Visa (V) stock was down 1.2% despite the company reporting higher adjusted earnings and revenue for fiscal Q4. Banco Santander (SAN) shares fell 3.9% after the bank posted its Q3 financial results. Seagate Technology (STX) stock was 2.5% lower despite the company posting higher fiscal Q1 adjusted earnings and revenue.