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Futures off: Dow 0.06%, S&P 500 0.06%, Nasdaq 0.15%

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Fed rate decision due at 2:00 p.m. ET

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GE Vernova rises after bullish 2026 revenue outlook

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GameStop slips on third-quarter revenue miss

(Updates with prices, analyst comments)

By Johann M Cherian and Pranav Kashyap

Dec 10 (Reuters) - U.S. stock index futures were largely

unchanged on Wednesday, ahead of a Federal Reserve monetary

policy decision widely expected to deliver an interest rate cut

and hawkish commentary on the path of future easing.

The central bank's ongoing meeting is likely one of its most

divisive in years, as policymakers seek a delicate balance

between reducing borrowing costs to support the labor market and

curbing any reacceleration of inflation.

A prolonged absence of fresh economic data following the

recent government shutdown, combined with uncertainty over who

will lead the Federal Reserve next year, is adding to

policymakers' challenges.

White House economic adviser Kevin Hassett, an advocate for

interest rate cuts, is a front-runner for the position.

Traders are pricing in an 89.9% chance that the Federal

Reserve will cut interest rates by 25 basis points at 2 p.m. ET,

according to CME's FedWatch Tool, and are also betting on

additional easing in 2026.

If the Fed delivers a hawkish rate cut, one where Fed chair

Jerome Powell emphasizes ongoing worries about inflation and

tries again to temper expectations for additional cuts next

year, it will affect markets very differently than a more dovish

cut would, said Daniela Hathorn, senior market analyst at

capital.com.

Inflation worries have prompted market participants to price

in higher interest rates by the end of 2026 in Australia, Canada

and Japan.

The Fed's balance sheet and plans to purchase short-term

bills to ensure ample liquidity in the banking system will also

be on investor radar.

At 7:00 a.m. ET, Dow E-minis were down 30 points, or

0.06%, S&P 500 E-minis were down 4 points, or 0.06%, and

Nasdaq 100 E-minis were down 39.5 points, or 0.15%.

U.S. stocks have rallied since late November on lower rate

expectations, bringing the benchmark S&P 500 within 1% of

a record high. The Russell 2000 index, which tracks small caps

, also hit a record high, outperforming broader Wall

Street this quarter.

The rest of the week is likely to be dominated by earnings

reports from major artificial intelligence players, including

software company Oracle and chipmaker Broadcom ( AVGO )

, due after markets close.

Concerns over debt-fueled corporate spending, complex

deal-making across the broader AI sector and uncertainty about

how companies will monetize the disruptive technology have

triggered sell-offs in both equity and debt markets in recent

months.

On Wednesday, shares of energy equipment manufacturer GE

Vernova gained 9.2% after forecasting higher revenue in

2026, signaling strong demand for its AI-related

infrastructure.

Lending giant JPMorgan Chase ( JPM ) steadied following a

nearly 5% drop in the previous session after saying it expects

higher expenses next year.

GameStop fell 6.3% after the video game retailer

announced downbeat third-quarter revenue.

Casual dining chain Cracker Barrel lost 9.8% after

lowering its annual revenue forecast.