Futures on the Dow Jones Industrial Average dropped 25 points to 12063 and Standard & Poor's 500 index futures fell 5.75 points to 1282.25. Nasdaq 100 futures were down 10.50 points at 2233.50.
U.S. markets closed higher Tuesday, with the Dow gaining nearly 110 points amid hopes the Greek government would avoid a sovereign-debt default.
Greece took a step toward a further European bailout when the government late Tuesday survived a no-confidence vote in parliament. However Prime Minister George Papandreou still has to push through further austerity measures in the coming days.
The focus Wednesday will also turn back to the U.S. economy, with the latest policy decision from the Federal Reserve, followed by Chairman Ben Bernanke's press conference.
The Fed is widely expected to make the formal decision to end its program of buying $600 billion of Treasury securities on June 30 and to leave its interest-rate policy unchanged in a decision due at 12:30 p.m., EDT.
Of potentially more interest will be how Bernanke handles the 2:15 p.m., EDT, press conference, when he tries to calm markets that have been made jittery by a string of soft economic data in recent weeks.
"We suspect the recent soft patch in the economic data will lead to a more noticeable downgrade of the committee's latest economic assessment," said Joseph Lavorgna, chief U.S. economist at Deutsche Bank, in a note to clients.
Lavorgna said the Fed's growth forecast will likely be cut to around 2.7% to 2.9%, having already been lowered to a range of 3.1% to 3.3% in April.
"Investors will look to some dovish remarks from Bernanke during the conference, and if there are any there might be room for some minor rebound," said Przemyslaw Kwiecien, chief economist at X-Trade Brokers.
However, markets cannot expect much of a boost from the Fed, as inflation worries mean another round of quantitative easing is out of the question, he said.
"There is no way hawkish members of the Fed will allow touching the printing press again," Kwiecien said.
The dollar index edged higher ahead of the Fed decision, rising 0.2% to 74.77. Commodity prices were mostly lower. Light crude for August delivery slipped 80 cents to $93.37 a barrel in electronic trading and the August gold contract fell $2.90 to $1,543.50 an ounce.
Among stocks to watch, shares in Koninklijke Philips Electronics N.V. (PHG, PHIA.AE) slumped 13% in Amsterdam and were down 12% in U.S. premarket trade after the firm warned that profit in its lighting and consumer-lifestyle units would be far below market expectations.
Adobe Systems Inc. (ADBE) was down 3.5% in U.S. premarket trading after the software firm said late Tuesday that its fiscal second-quarter profit rose 54% to $229.4 million as revenue topped $1 billion.
In deal news, Dentsply International Inc. (XRAY) agreed to buy AstraZeneca PLC's (AZN) Astra Tech dental and health-care division for around $1.8 billion in cash.
Companies due to report earnings Wednesday include FedEx Corp. (FDX), which is expected to post a fiscal fourth-quarter profit of $1.73 a share.
In international markets, European stocks mostly fell following strong gains on Tuesday. The U.K.'s FTSE 100 index dropped 0.5%.
Asian markets closed higher, including a 1.8% jump for Japan's Nikkei Stock Average. For the latest updates PRESS CTR + D or visit Stock Market news Today
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