U.S. equity futures edged higher on Wednesday ahead of a pivotal interest rate decision from the Federal Reserve that could mark the beginning of a new hiking cycle over the next few months.

S&P 500 futures and Nasdaq-100 futures were up 0.3% and 0.5%, respectively. Futures tied to the Dow Jones Industrial Average climbed 161 points, or 0.3%.

SK Hynix opens new tab is in talks with Intel , opens new tab about a deal ​that would see it manufacture memory chips on U.S. soil for the first time, three people familiar with the discussions said.

Under one potential scenario, SK Hynix would lease part of Intel's ‌long-planned chipmaking facility in Ohio, they said. Under another scenario, it could form a venture with Intel and major cloud firms that are keen to lock in memory chip supplies, two of the people said.