By Barbara Kollmeyer, MarketWatch

MADRID (MarketWatch) -- Stock futures largely stuck to the flat line ahead of a decision from the Federal Open Market Committee that is expected to spell the end of its bond-buying program, though a slide in Facebook shares was putting early pressure on other technology stocks.

Futures for the S&P 500 index (SPZ4) fell 2.7 points to 1,977.40, while those for the Dow industrials (DJZ4) eased 3 points to 16,933. Futures for the Nasdaq-100 index (NDZ4) fell 9.5 points or 0.2%, to 4,084.50, as Facebook Inc.(FB) skidded 7% on a warning about higher costs.

Stocks rallied Tuesday on hopes for a market-pleasing outcome from the Fed meeting. The Nasdaq Composite Index (RIXF) outperformed other main indexes with a 1.75% gain, while the S&P 500 index (SPX) jumped 1.2% and the Dow industrials (DJI) notched a triple-digit point rise.

Officials are expected to announce the end of the Fed's lengthy bond-buying program. Stocks have risen as traders have gotten bullish in anticipation that the Fed will be dovish with its forward guidance, said Jonathan Sudaria, dealer at London Capital Group. And therein lies the risk.

"In exchange for pulling the plug, markets will need to get something in return or they could throw another taper tantrum," he said in a note. Read: Fed will hold market's hand as it ends QE3

The wrap of the Fed meeting is the only item on the economic calendar for Wednesday.

Techs under pressure: Tech stocks weren't shaping up for a repeat of Tuesday's gains, thanks in part to that Facebook warning, which overshadowed better-than-expected earnings. While results in the past year have been impressive and hard to beat, tougher comparisons and higher spending are on investors' minds, said Pacific Crest Securities' analyst Evan Wilson, in a note.

Facebook joins Twitter Inc. (TWTR) in dealing with what's been a tough week for some Internet stocks. Twitter fell nearly 10% on Tuesday after the social-media company's results showed slowing growth in new users and analysts downgraded the stock. Read: Facebook user growth may be slowing too

More stocks to watch: Ahead of the opening bell, Goodyear Tire & Rubber Co. (GT), Hershey Co.(HSY), Ralph Lauren Corp. (RL) are due to report. WellPoint Inc. (WLP) posted adjusted earnings that beat forecasts, but shares weren't moving in premarket.

U.S. Steel Corp.(X) shares rose 10% in premarket after posting a narrower loss and higher revenue late Tuesday.

InvenSense Inc. (INVN) shares were off 22% in premarket trading after the micro-electro-mechnical systems designer posted second-quarter results that fell short of market expectations. Pacific Crest downgraded shares to sector perform from underperform.

Orbital Sciences (ORB) slumped more than 10% premarket after one of the company's rockets exploded soon after liftoff. On Sunday, Orbital announced it was launching an Antares rocket with a Cygnus logistics spacecraft to the International Space Station. Here's the dramatic footage.

Electronic Arts Inc. (EA) could see more gains, after second-quarter results topped Wall Street forecasts and the videogame publisher lifted its outlook. See Movers & Shakers for more on individual stocks.

Other markets: European stocks rose slightly, while Asian markets took a cue from Wall Street's strong gains on Tuesday and powered ahead. Gold(GCZ4) and the dollar(DXY) were steady, while oil(CLZ4) logged moderate gains.

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