(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures up: Dow 0.09%, S&P 500 0.15%, Nasdaq 0.16%

March 20 (Reuters) - Wall Street futures climbed on

Thursday as investors drew confidence from the Federal Reserve's

signaling of more interest rate cuts this year despite

uncertainties stemming from U.S. trade policies.

The Fed opted to maintain current interest rates on

Wednesday, a move widely anticipated by the market, but

reaffirmed its forecast for two 25 basis point reductions by the

year-end.

However, the central bank revised its economic outlook,

projecting slightly reduced growth and increased inflation for

the year, alongside a modest uptick in the unemployment rate by

2025.

"I mean it's just ... really hard to know how this is going

to work out," Fed Chair Jerome Powell told a press conference

after a two-day policy meeting.

Market participants are currently factoring in 63 basis

points of easing from the Fed this year, placing odds of 25 bps

rate cut in June at 60%, according to CME Group's Fedwatch tool.

In the previous session, the major stock indexes gained,

with the S&P 500 advancing 1%, the tech-heavy Nasdaq

climbing 1.4% and the Dow gaining nearly 1%.

The CBOE volatility index, also known as Wall

Street's fear gauge, touched a nearly one-month low in the

previous session.

At 5:40 a.m. ET, S&P 500 E-minis were up 8.5 points,

or 0.15%, with 99,371 contracts changing hands. Nasdaq 100

E-minis were up 32.5 points, or 0.16% and Dow E-minis

were up 39 points, or 0.09%.

Despite Wall Street seeing gains in three out of the past

four sessions, the S&P 500 remains down 3.5% so far this year

and the Nasdaq lower 8%. The indexes' declines erase all gains

since President Donald Trump's November election, underscoring

concerns over slowing economic growth and trade tensions fueled

by Trump's aggressive trade policies.

"The potential downside risks to growth and upside risks to

inflation, in part from tariffs and trade policy uncertainty,

creates a complication for the monetary policy outlook," said

Ryan Wang, U.S. economist at HSBC.

Gold prices hit a new record high, another sign of

lingering investor worries.

A key focus for the markets will be the upcoming

implementation of new reciprocal and sectoral tariffs, slated to

take effect on April 2.

Growth stocks ticked up in premarket trade, with Nvidia ( NVDA )

rising nearly 1%. Meta, Amazon.com ( AMZN )

and Microsoft ( MSFT ) all gained above 0.2% each.