08:18 AM EDT, 03/20/2024 (MT Newswires) -- US stock futures were treading water in Wednesday's premarket session as investors intently await the Federal Reserve's decision on interest rates as the Federal Open Market Committee, the Fed's policy setting committee, closes out its two-day meeting.

Dow Jones Industrial Average futures were off 0.04%, S&P 500 futures were up 0.07%, and Nasdaq futures rose 0.3%.

The FOMC, which will announce its decision Wednesday afternoon, is widely expected to keep its federal funds target rate range unchanged at 5.25%-5.50%.

The Fed will also release its projection for inflation and economic growth over the next two years.

Later in the morning the Energy Information Administration will release its weekly crude oil inventory report, which measures the change in the number of barrels of commercial crude oil held by US firms.

Oil prices were moving lower, with front-month global benchmarks North Sea Brent crude declining 0.9% to $86.59 and US West Texas Intermediate crude declining 1.0% to $81.90.

On the winning side, shares of Treasure Global ( TGL ) jumped 42% in Wednesday's premarket session, adding to a 12% gain Tuesday. Taysha Gene Therapies ( TSHA ) shares surged 31% after it reported late Tuesday a narrower net loss and a boost in revenue for full-year 2023. And shares of PDD Holdings ( PDD ) climbed 17% after it reported Q4 non-GAAP earnings and revenue Wednesday that beat analyst expectations.

On the losing side, shares of Momentus ( MNTS ) tumbled 21%, erasing Tuesday's 17% gain. Ontrak ( OTRK ) shares lost 19% after soaring 132% the previous session. And shares of Verb Technology ( VERB ) dropped 12%, more than wiping out a 7% increase from the previous day.