U.S. stocks rose after the Federal Reserve lowered its benchmark interest rates by 50 basis points to a range of 4.75% to 5%. That was the first rate cut in over four years that marked the beginning of a monetary-easing cycle in the world's largest economy.

Stock futures are pointing to a higher open for major U.S. indexes on Wednesday as market participants await the Federal Reserve's first interest rate cut in more than four years.

U.S. equity futures edged higher Wednesday, while moves in the dollar and the Treasury bond market reflected indecision amongst global investors as to how the Federal Reserve is likely to execute its first rate cut in more than four years later today.