US stock index futures pointed to a higher opening on Wall Street on Wednesday as investors awaited the Federal Reserve's statement on interest rates and the economy.

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At 1010 GMT futures for the S&P 500 were up 0.67 per cent, Dow Jones futures were up 0.62 per cent and Nasdaq 100 futures were up 0.34 per cent.

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The Fed is expected to reaffirm that policies to support the economy will stay in place for some time, even as signs of recovery mount.

The auto sector was in focus on Wednesday with Nissan Motor Co predicting a year profit as soaring sales in China helped drive quarterly earnings beyond the market's expectations, and after General Motors' decision to keep its European arm Opel, which it partly attributed to improving business conditions.

Shares in Kraft Foods Inc will be in the spotlight after the world's second-largest food company posted third-quarter earnings after the bell on Wall Street. Kraft's stock traded in Frankfurt were down 2.7 per cent.

Oil rose above $80 a barrel on Wednesday, adding to the previous day's strong gains, while the dollar retreated from a one-month high against a currency basket.

The Nikkei average gained 0.4 per cent, while European shares were up 1.1 per cent in morning trade, as buoyant auto shares such as Daimler , Fiat and Renault helped the market bounce back from its previous session's sharp drop.

On the macro front, investors will keep an eye on the monthly ADP National Employment data and the ISM non-manufacturing index.

The Walt Disney Co's breakthrough deal to build one of its theme parks in Shanghai marks a major advance for Western media and entertainment firms trying to crack a tough China market.

The S&P 500 and Nasdaq rose slightly on Tuesday as news of a major railroad acquisition helped sentiment, but the Dow edged lower on caution before a Federal Reserve statement on interest rates and the economy.

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The Dow Jones industrial average slipped 17.53 points, or 0.18 per cent, to end at 9,771.91. But the Standard & Poor's 500 Index added 2.53 points, or 0.24 per cent, to finish at 1,045.41. The Nasdaq Composite Index advanced 8.12 points, or 0.40 per cent, to close at 2,057.32.