US equity futures were rising before Wednesday's opening bell as traders monitored developments surrounding the country's tariff policy and looked ahead to the Federal Reserve's decision on interest rates.

Dow Jones Industrial Average futures rose 0.5%, S&P 500 futures gained 0.4%, and Nasdaq futures were up 0.3%.

Treasury Secretary Scott Bessent said Tuesday he would seek to "de-escalate" trade tensions between China and the US at negotiations slated to begin this week in Switzerland.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $62.28 per barrel and US West Texas Intermediate crude 0.3% higher at $59.24 per barrel.

The Federal Open Market Committee is scheduled to release a policy statement at 2 pm ET. Analysts are expecting no change in the Federal Funds target rate range of 4.25% to 4.5%.

In other world markets, Japan's Nikkei closed 0.1% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 0.8% higher. Meanwhile, the UK's FTSE 100 was down 0.5% and Germany's DAX index was 0.1% lower in Europe's early afternoon session.

In equities, shares of New Century Logistics (NCEW) were up 66% pre-bell after the company said it signed a deal with Soradynamics to jointly develop an in-vehicle drone logistics system.

On the losing side, Myriad Genetics (MYGN) stock was 21% lower after a Wells Fargo downgrade followed the company's Q1 financial results posted overnight. The company had reported a wider Q1 adjusted loss and lowered its 2025 guidance.