US stock futures traded flat as investors braced for the Federal Reserve's next interest rate decision and earnings from tech giants Microsoft and Meta.

The moves come after the S&P 500 and the Nasdaq Composite hit new all-time and closing highs during Monday’s trading session.

Stock futures rose to start the final week of trading for July, as investors prepared for a big dose of economic reports, tech earnings, and the Federal Reserve’s next decision on interest rates. Just after 6 p.

Nifty futures on the NSE International Exchange traded 39.30 points, or 0.16 per cent, down at 24,799.50, hinting at a negative start for the domestic market on Wednesday.

There's just under an hour and a half to go until stocks begin trading, with the futures tied to the Stoxx Europe 600 index pointing to a gain of 0.2% when stock markets open. Regionally, the U.K.'s FTSE 100 and Germany's DAX are expected to rise 0.2% as well. Meanwhile, France CAC 40 index is set to be nearly flat, according to FactSet data.

Dow Jones futures rose slightly overnight, along with S&P 500 futures and Nasdaq futures. Investors face a huge amount of news in the coming session, including the Q2 GDP data before the open, the Federal Reserve meeting decision Wednesday afternoon as well as MicrosoftMSFT and Meta PlatformsMETA earnings after the close.

Stocks closed lower Tuesday as investors took a breather from a rally that had pushed major indexes to a series of record highs in recent weeks.

The likeliest outcome for key U.S. service sector data may also be the scariest for stock markets. tastylive's Head of Global Macro Ilya Spivak previews the much-anticipated August edition of the ISM services PMI survey.