New Delhi, July 30 -- US stock index futures pointed to a steady open on Wednesday as investors remained cautious ahead of the Federal Reserve's policy decision due later in the day. Markets largely expect the Fed to hold interest rates steady while providing cues on the timing of future cuts.

Apart from the Fed outcome, investors are also awaiting earnings reports from two 'Magnificent Seven' firms-Meta Platforms and Microsoft. Stronger-than-expected growth in the U.S. economy did little to shift investor focus away from interest rates and corporate earnings.

Fed funds futures are pricing in a nearly 98% probability that the central bank will keep its key rate unchanged at 4.25%-4.5%, according to CME Group's FedWatch tool. However, Fe...