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 While observers don't expect the Fed will move the benchmark rate from 5.25 percent, where it has been since last summer, many will be looking to the central bank's economic policy statement for comments on the recent concern enveloping the markets that has led to big swings in stocks and bonds. Some analysts are also debating whether the Fed will change its bias away from raising rates toward a neutral or lowering stance.
Fed policy makers have for months predicted the economy would begin growing at a stronger pace but that they remain primarily concerned about uncomfortably high inflation.
While the Fed meeting will likely dominate investors' attention, Wall Street is also expecting a handful of big earnings reports from insurer Marsh & McLennan Cos., Duke Energy Corp. and, after the closing bell, Cisco Systems Inc.
Dow Jones industrial average futures expiring in September fell 15, or 0.11 percent, to 13,471. Standard & Poor's 500 futures slipped 0.50, or 0.03 percent, to 1,467.20, Nasdaq 100 futures fell 1.75, or 0.09 percent, to 1,960.75.
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 European markets rose sharply following a U.S. advance Monday that lifted the Dow Jones industrials 286 points, its biggest gain in nearly five years. London's FTSE 100 rose 1.20 percent, Germany's DAX index rose 0.96 percent, while France's CAC-40 rose 1.53 percent.
In Asia, the often volatile Shanghai Composite Index rose 0.50 percent, while Japan's Nikkei stock average rose 0.04 percent.
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