5 crucial points to consider before the stock market commences on Wednesday.

The most crucial news, tendencies, and evaluations that traders must review before beginning their trading day are as follows:

1. Stock futures point to higher open ahead of Fed decision

On Wednesday, U.S. stock futures were positive, with investors anticipating a crucial interest rate decision from the Federal Reserve. The Dow futures suggested an opening increase of approximately 375 points, while the S&P 500 and Nasdaq futures were up by roughly 1.25% and 1.8%, respectively.

Wall Street aims to build on Tuesday's gains, which some strategists suggest were a relief rally. The S&P 500 and Nasdaq both ended their losing streaks, with the S&P 500 jumping 2.1% and the Nasdaq advancing 2.9%. Despite this, the Nasdaq remains about 19% off its record closing high in November. Both indexes are seeking their first back-to-back positive sessions since February 24-25. After ending Monday's session flat, the Dow added 599 points, or 1.8%, on Tuesday.

2. Fed expected to raise rates for first time since 2018

The Fed's two-day policy meeting ends on Wednesday, and it is predicted that the U.S. central bank will announce its first interest rate hike since December 2018 at 2 p.m. ET. Following the announcement, Fed Chair Jerome Powell will hold a news conference 30 minutes later. The majority of people expect a quarter-point increase to the fed funds target rate range, which has been between zero and 0.25% since early 2020.

The Fed's anticipated move on Wednesday is the next step in its policy tightening cycle, as the U.S. economy's inflation rate remains at its highest level in decades. The ongoing Russia-Ukraine conflict is exacerbating inflation concerns. Investors will be closely monitoring Powell's comments on the conflict and its impact on the central bank's policy outlook.

Zelenskyy believes that a peace deal with Russia is becoming more attainable.

Ukrainian President Volodymyr Zelenskyy stated that a potential agreement to end the war with Russia is becoming more feasible as negotiations with Moscow progress. However, Zelenskyy emphasized that time is still required for the decisions to be in Ukraine's best interests. Russia's foreign minister, Sergey Lavrov, also expressed optimism about peace talks, stating in an interview with Russia's RBC that there is some hope of reaching a compromise.

As Russia's invasion of Ukraine continues, its attacks on neighboring countries are expanding. For the first time, local officials in Zaporizhzhia reported that civilian infrastructure in the city had been targeted. Additionally, residential buildings in Kyiv were under fire once again on Wednesday.

4. China pledges more economic support; stocks rebound

On Wednesday, Hong Kong's stock market recorded its best day since October 2008, surging 9.1%, after several days of heavy selling. Tech companies like Alibaba and Tencent both saw their Hong Kong-listed shares jump more than 20%. The Hang Seng and SSE Composite, two key indexes on mainland China, advanced 3.5% and 4%, respectively.

The rebound in China's economy and its publicly traded companies came as investors processed two pieces of positive news. Firstly, the official Xinhua News Agency reported that Chinese officials pledged to offer more support for the world's second-largest economy, including the crucial real estate sector. Secondly, the state news outlet said progress had been made on a cooperation plan for U.S.-listed Chinese stocks, which have been the subject of intense regulatory scrutiny.

5. Pfizer asks FDA to OK another Covid booster for older adults

BioNTech and its German partner have requested the FDA to approve a booster shot of their coronavirus vaccine for Americans aged 65 and above. In their application, the vaccine makers presented data from Israel that indicates a second Covid booster dose, given at least four months after the initial shot, provides better protection against the disease. This group is at a higher risk of severe illness and death from Covid.

This report was contributed to by Chloe Taylor of CNBC and The Associated Press.

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