U.S. futures head higher ahead of Fed meeting

Futures are rising though many investors are waiting on the sidelines for what could potentially turn into critical developments in the United States and in Europe.

Germany's high court rejected a last-minute plea Tuesday to postpone its ruling on a request to block the country's approval of a permanent bailout fund for the European Union. And global markets are focusing intensely on the U.S. Federal Reserve, whose monetary policymaking body gathers Wednesday for a two-day meeting.

Dow Jones industrial futures are up 44 points to 13,281. The broader S&P futures have added 4.9 points to 1,431.30. Nasdaq futures are up 8.5 points to 2,793.

The Commerce Department reports the latest trade deficit figures at 8:30 a.m. Eastern. Economists expect the trade deficit grew because of the weak global economy.