U.S equity future edged higher in early Wednesday trading, while the dollar extended gains and Treasury yields dipped, as investors looked for clarity on two key issues from today's Federal Reserve rate decision and fourth quarter earnings updates from three megacap tech giants.

Microsoft (MSFT) stock shed weight in the early going on Wednesday ahead of the Federal Reserve’s (Fed) latest interest rate decision, scheduled for 14:00 EST, and the mammoth tech conglomerate’s fiscal second-quarter results after the close.

Stocks are ticking higher on Wall Street following a rush of profit reports from some of the country’s most influential companies. The S&P 500 rose 0.3% in early Thursday trading.