08:06 AM EDT, 03/20/2024 (MT Newswires) -- US equity markets were mostly down marginally in Wednesday premarket trading as investors await the Federal Reserve's policy decision on interest rates later in the day.

Standard & Poor's 500 futures and the Dow Jones Industrial Average decreased 0.1% each, while the Nasdaq gained 0.1% before the opening bell. Asian exchanges were mostly pointing higher while European bourses were heading south.

The Fed is due to announce its rate decision at 2 pm ET, with Chair Jerome Powell to hold a press conference at 2:30 pm. There is a 99% probability the central bank will not cut its key rate, according to the CME FedWatch Tool.

Also on Wednesday's economic calendar, the weekly mortgage applications bulletin is out at 7 am, followed by the Atlanta Fed Business Inflation Expectations report for March at 10 am. The weekly domestic petroleum inventories report is scheduled for a 10:30 am release.

Chipotle Mexican Grill (CMG) shares jumped 6.8% pre-bell after the burrito chain's board approved a 50-for-1 split of its stock. HealthEquity (HQY) gained 1.6% after reporting better-than-expected fiscal fourth-quarter results. Intel (INTC) inclined 3.5% after the chipmaker signed terms for up to $8.5 billion in funding from the US government.

Pinduoduo Parent PDD (PDD), General Mills (GIS), Prudential (PUK), BioNTech (BNTX), Ollie's Bargain Outlet (OLLI) and Signet Jewelers (SIG) report their latest financial results before the bell, among others. Micron Technology (MU), Five Below (FIVE), Chewy (CHWY) and KB Home (KBH) post earnings in the afterhours.

Before the open, bitcoin slid 2.8% to $62,862, West Texas Intermediate crude slipped 1% to $82.60 a barrel, yields on 10-year Treasuries dipped 1.5 basis points to 4.28% and gold ticked down 0.1% to $2,157 an ounce.