08:44 AM EDT, 09/18/2024 (MT Newswires) -- US equity futures posted narrow gains pre-bell Wednesday ahead of the Federal Reserve's interest rate decision.

The Dow Jones Industrial Average futures, S&P 500 futures, and Nasdaq futures were all up around 0.1%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.8% at $73.08 per barrel and US West Texas Intermediate crude down 0.9% at $69.34 per barrel.

US housing starts, released at 8:30 am ET, rose to a 1.356 million annualized rate in August from 1.237 million in the preceding month, ahead of estimates compiled by Bloomberg for a smaller rise to 1.32 million. Meanwhile, permits jumped to 1.475 million from 1.406 million previously, compared with estimates for 1.41 million.

The Federal Open Market Committee is scheduled to release a policy statement at 2 pm ET.

In other world markets, Japan's Nikkei closed 0.5% higher, China's Shanghai Composite ended 0.5% higher, while the Hong Kong market was closed for holiday. UK's FTSE 100 fell 0.6%, and Germany's DAX index slipped 0.05% in Europe's early afternoon session.

In equities, Intuitive Machines ( LUNR ) shares rose 53% after the company said late Tuesday it was awarded a Near Space Network contract valued up to $4.82 billion from NASA. Applied Therapeutics ( APLT ) shares were up 40% after the company said that the US Food and Drug Administration no longer requires an advisory committee meeting with respect to the company's ongoing new drug application for a treatment candidate for Classic Galactosemia.

On the losing side, Cibus ( CBUS ) shares retreated nearly 19% after the company announced a planned public offering of class A common shares.