Global equities traded slightly higher on Friday as investors waited for the Federal Reserve to announce its latest policy decision later in the day. The cautious tone reflected a market that is still weighing inflation trends, borrowing costs, and the outlook for growth.

US futures pointed to a firmer open on Wall Street, adding to the broadly positive mood across international markets. Even so, gains were limited as traders avoided taking large positions before hearing how policymakers plan to navigate the next phase of monetary policy.

The Fed decision remains the main focus for investors because it could shape expectations for rates over the coming months. A more cautious central bank could keep pressure on risk assets, while any signal of easing could help support stocks and other growth-sensitive markets.

For now, the session is defined by restraint rather than conviction, with markets moving in small increments as participants wait for clearer guidance from the central bank.