09:14 AM EDT, 03/20/2024 (MT Newswires) -- US stocks looked set to open flat Wednesday as investors awaited the Federal Reserve's decision on interest rates as the Federal Open Market Committee closes out its two-day meeting.

Dow Jones Industrial Average futures were down 0.15%, S&P 500 futures were off 0.09%, and Nasdaq futures were up 0.11%.

The FOMC, which will announce its rate decision at 2 pm ET, 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.

At 10:30 am ET, the Energy Information Administration will release its crude oil inventories report, which measures the weekly change in the number of barrels of commercial crude oil held by US firms.

Oil prices were moving sharply lower with front-month global benchmarks Brent crude and West Texas Intermediate crude falling 1.54% and 1.75% respectively.

In other world markets, Japan's Nikkei gained 0.66%, Hong Kong's Hang Seng nudged 0.08% higher, and China's Shanghai Composite was up 0.55%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was off 0.2%, while Germany's DAX gained 0.20% and France's CAC was moving 0.65% lower.

On the winning side, shares of Treasure Global ( TGL ) jumped 65% in Wednesday's premarket session, adding to a 12% gain on Tuesday. Taysha Gene Therapies (TSHA) shares surged 33% after it reported Wednesday a narrower net loss and a boost in revenue for full-year 2023. PDD Holdings ( PDD ) climbed 18% after it reported Q4 non-GAAP earnings and revenue Wednesday that beat analyst expectations. FibroBiologics ( FBLG ) advanced by nearly 10,, adding to a 21% gain on Tuesday. And shares of SCWorx Corp. ( WORX ) were up 16%, adding to a 54% gain the previous day.

On the losing side, shares of Ontrak ( OTRK ) lost 20% after soaring 132% the previous session. Momentus ( MNTS ) tumbled 19%, erasing Tuesday's 17% gain. Verb Technology ( VERB ) dropped 16%, more than wiping out a 7% increase from the previous day. Aquestive Therapeutics ( AQST ) fell 12%, a day after pricing an underwritten public offering of approximately 16.7 million common shares at $4.50 each for gross proceeds of about $75 million. And shares of Brand Engagement Network ( BNAI ) were down 16%, adding to a 9% loss on Tuesday.