The US stock index futures higher on Wall Street Wednesday, with futures for the Dow Jones Industrial rose 42 points to 12560, S&P 500 index rose 4.6 points to 134,60 and the Nasdaq 100 gained 14.25 points to trade at 2399.

The monetary policy of the news conference of the Federal Reserve Chairman, Ben Bernanke's will be used in order to withdraw the central bank's extensive support for the U. S. economy.

The interest rate policy will be released; and the fed funds are expected to rate between 0% and 0.25% and $600 billion will be purchased of the government debt by the end of June. The decision will be announced by the Federal Market Committee at 12:30 pm in the US Eastern.

The value of the dollar has risen to 0.1% in comparison to the Euro at Y82.12. The oil prices have declined and Nymex Crude decreased by 47% at $112.68 per barrel in electronic trade.

The Fed’s first-ever post-FOMC meeting news conference at 2 pm will be the main event.

Ian Shepherdson, Chief U. S. Economist at High Frequency Economics, said that Bernanke does not make the policies on hoof and hence he will discuss the new interest policies. He said that the forecast will impact on the markets.