Susan Mathew

(Reuters) – U.S. stock markets rose Wednesday with a rise in Microsoft and investors eagerly awaiting the Federal Reserve’s monetary policies decision late in the day.

After two days of volatility, the Fed’s next move was uncertain and growing concerns about geopolitical tensions in Ukraine and Russia prompted wild swings.

The U.S. central banks will likely signal that the beginning of a March interest rate increase cycle is imminent at the conclusion of their two-day meeting. This move is intended to combat an inflation surge.

At 2 p.m., the Fed will announce its decision. ET, 1900 GMT. The Fed chair Jerome Powell’s press conference is followed at 2 p.m. ET. These will contain clues as to the size and pace of future hikes.

Microsoft Corp The stock index (NASDAQ) rose 3.2% during premarket trades as the tech giant predicted revenue for the current quarter far ahead of Wall Street goals.

Futures linked to rose 2% The stock market was up 1.1% while the futures rose 0.8%