Futures subdued ahead of Fed rate decision

US stock index futures were mostly flat on Wednesday ahead of a widely expected super-sized rate hike from the Federal Reserve, with investors looking for signs the central bank could temper its aggressive stance on future interest rate increases.

The Fed is expected to deliver a fourth straight 75 basis point hike at the end of its policy meeting on Wednesday, with the decision due at 2:00 p.m. ET (1800 GMT). Focus will be on commentary from Fed Chair Jerome Powell after the decision.

Key labor data this week, including the ADP National Employment report due at 8:15 a.m. ET on Wednesday, will be analyzed for clues on whether the Fed’s aggressive tightening has begun to cool the economy.

The ADP report is expected to show private payrolls rose by 195,000 jobs in October, according to a poll of economists, after gains of 208,000 in September.