07:34 AM EDT, 05/07/2025 (MT Newswires) -- The main US stock measures were pointing higher in Wednesday's premarket activity amid growing optimism over US-China trade talks, while investors await the Federal Reserve's decision on interest rates later in the day.

The S&P 500 and the Nasdaq rose 0.6% each before the opening bell, while the Dow Jones Industrial Average added 0.5%. The indexes closed lower for a second straight session on Tuesday.

US Treasury Secretary Scott Bessent is set to meet China's lead representative on economic matters in Switzerland later this week, the Treasury said in a Tuesday statement. "I look forward to productive talks as we work towards rebalancing the international economic system towards better serving the interests of the US," according to Bessent.

On Tuesday, President Donald Trump said the US does not need to sign deals with trading partners.

"They want a piece of our market. We don't want a piece of their market," Trump reportedly said.

The Fed is due to announce its latest monetary policy decision at 2 pm ET, with Chair Jerome Powell scheduled to hold a press conference at 2:30 pm. Markets are widely expecting the central bank to hold its benchmark lending rate steady, according to the CME FedWatch tool.

The Fed's decision comes at a time when Trump has increased pressure on the central bank to lower interest rates. Last month, Trump said that he'd like to see Powell be a "little more active in terms of his idea to lower interest rates."

The two-year US Treasury yield advanced 2.3 basis points to 3.81% in premarket action, while the 10-year rate slipped 0.2 basis points to 4.32%.

Wednesday's economic calendar also has the mortgage applications bulletin and the weekly EIA domestic petroleum inventories report. The Census Bureau and the Bureau of Economic Analysis on Tuesday reported that the US goods and services deficit widened more than expected to $140.5 billion in March from February's revised tally.

Shares of Advanced Micro Devices ( AMD ) gained 2.7% pre-bell as the chipmaker issued an upbeat second-quarter revenue outlook at the midpoint despite new export licensing requirements. Novo Nordisk's ( NVO ) US-listed shares grew 5.4% following the Danish pharmaceutical giant's latest quarterly results.

Uber Technologies ( UBER ) , Walt Disney ( DIS ) , Emerson Electric ( EMR ) , Johnson Controls International ( JCI ) , Vistra ( VST ) , Rockwell Automation ( ROK ) , Performance Food Group ( PFGC ) and Unity Software ( U ) are some of the major companies scheduled to post earnings before the bell. Arm Holdings ( ARM ) and Fortinet ( FTNT ) are due to release their financial statements after the markets close.

West Texas Intermediate crude oil inclined 0.6% to $59.47 a barrel in premarket activity. Bitcoin increased 1.9% to $96,897, while gold retreated 0.8% to $3,394 per troy ounce.