Investors are positioning themselves for some excitement today. They are likely to get it—as we get new numbers on U.S. GDP, a new rate decision from the Fed, and ADP reports on private payrolls.

Wall Street ticked quietly higher ahead of the opening bell Wednesday as markets absorbed another spate of corporate earnings reports while waiting to see what the Federal Reserve will do with its benchmark interest rate.

Wall Street is heading into a high-stakes trading day on Wednesday with a sense of caution, as Dow Futures suggest a muted start as investors look ahead to major events. The big focus is on two things: the Fed’s interest rate decision and earnings from Microsoft and Meta after the bell.