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Futures Mixed Ahead of Federal Reserve Decision

Stock futures appeared mixed on Wednesday as investors anxiously wait for the Federal Reserve to announce its latest interest rate changes following its latest policy meeting. The central bank is expected to release its policy statement at 2:00 PM ET, which will be followed by an announcement by Fed chair Jerome Powell at 2:30 p.m. ET.

Wall Street is expecting an interest rate rise of 25 basis points, which would be the second consecutive meeting in which the Federal Reserve has slowed down its interest rate hikes.

Dow Jones futures were down 0.3% on Wednesday morning, while S&P 500 futures lost 0.2%. Futures on the Nasdaq edged higher by a margin of less than 0.1%.

Peloton shared advanced by 4% after the company announced decreased spending of $94 billion during the fourth quarter, down from $747 million nine months prior.

Shares in social media company Snap Inc., on the other hand, plunged by 15% during pre-market trade after the company announced that it expects revenue to fall by 2% to 10% in the current quarter compared to the previous year. Match Group and EA shares also fell after both companies reported disappointing quarterly results.

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