US equity futures showed modest gains before the market opened on Wednesday as traders anticipated the Federal Reserve's decision on interest rates. Futures for the Dow Jones Industrial Average rose by 0.4%, while S&P 500 and Nasdaq futures each increased by 0.3%. Additionally, oil prices strengthened, with the global benchmark North Sea Brent crude up 0.8% to $73.75 per barrel, and US West Texas Intermediate crude up 0.3% to $70.31 per barrel.

In the housing sector, November is expected to see housing starts rise to a 1.35 million annual rate from the previous month's 1.311 million, based on estimates gathered by Bloomberg. Meanwhile, permits are poised to rise to 1.43 million from 1.419 million. The Federal Open Market Committee is set to announce a policy statement at 2 pm ET, with many forecasters predicting a 25-basis-point cut in interest rates..