Stock index futures pointed to a flat to slightly higher market open on Thursday ahead of a packed agenda that includes the latest interest-rate decision from the Federal Reserve.

In company news, wine and spirits company Constellation Brands Inc. said quarterly profit fell sharply, hurt by a plan to cut the amount of wine it ships to U.S. distributors and lower results from its British business.

The Fed's benchmark fed funds target rate is forecast to remain steady at 5.25 percent, but investors will scrutinize the accompanying statement for any signal that the Fed is preparing Wall Street for a shift in monetary policy.

The Fed's decision will be announced about 2:15 p.m. (1815 GMT).

Weekly initial jobless claims and key quarterly data on growth and inflation will be released at 8:30 a.m. (1230 GMT).

For the moment, the overriding concern is inflation. However, with the housing and mortgage situation causing concern about the health of the consumer, the Fed has no choice but to do nothing, said Andre Bakhos, president of Princeton Financial Group in Princeton, New Jersey. The next step is to see what language the Fed uses.

S&P 500 futures were up 0.7 point, above fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures fell 1 point, and Nasdaq 100 futures added 0.5 point.

On Wednesday, the Dow Jones industrial average gained 90.07 points, or 0.68 percent, to 13,427.73. The Standard & Poor's 500 Index added 13.45 points, or 0.90 percent, to 1,506.34. The Nasdaq Composite Index rose 31.19 points, or 1.21 percent, to 2,605.35.

Other companies set to report earnings include Family Dollar, General Mills, KB Home, Monsanto Co. and Rite Aid Corp.

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