stock futures were flat tuesday evening as investors await the federal reserves latest interest rate hike decision in its effort to crush inflation set to be delivered on wednesday dow jones industrial average futures rose 13 points or 003 futures tied to the sp 500 and the nasdaq 100 ticked up 006 and 007 respectively stocks rose for a second day during regular trading on tuesday fueled by a coolerthananticipated inflation report the november consumer price index was 71 on the year less than the 73 gain expected by economists surveyed by dow jones the 01 increase from the previous month was also less than forecast the signal that inflation may have peaked was positive for stocks as it means the fed may be one step closer to halting interest rate hikes or switching to cuts which would fuel equities on wednesday the central bank will conclude its december meeting and deliver its latest rate hike investors largely expect a 50 basis point increase – or one half of a percentage point – a smaller bump after four consecutive 75 basis point hikes a basis point is equal to one hundredth of one percent chair jerome powell will also speak wednesday giving further clues about whats coming from the fed in 2023 in previous meetings this year traders have been sensitive to powells language interpreting his tone as hawkish or dovish the market obviously believes that theres going to be a pivot or a pause thats what we saw today said steve grasso ceo of grasso global on cnbcs fast money if powell puts a wet blanket on that the markets going to sell off the fed meeting is the final one of the year the next central bank meeting will run from jan 31 to feb 1 2023