Investing.com - U.S. stock futures pointed to a moderately higher open on Wednesday, ahead of the Federal Reserve's highly anticipated policy statement, scheduled later in the trading session.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.09% rise, S&P 500 futures signaled a 0.07% gain, while the Nasdaq 100 futures indicated a 0.25% increase.
Investors were awaiting the outcome of the Fed’s two-day policy meeting, due to conclude later Wednesday. The central bank was expected to announce plans to start tapering its USD85 billion-a-month asset purchase program.
A recent series of soft economic data raised doubts over how much the U.S. central bank will reduce its stimulus program.
The financial sector was likely to be in focus, after investment bank Jefferies Group said profit dropped 83% in the fiscal third quarter as trading revenue fell to the lowest level since the depths of the financial crisis.
Internet-linked companies were also expected to be active, following reports Internet radio service Pandora Media won a judge’s order to stop a group representing songwriters and music publishers from narrowing the scope of licenses that allow their music to be played.
In the tech sector, Microsoft and Sony were preparing to showcase new consoles at the Tokyo Game Show, where role-playing games were expected to take up more floor space this year. Microsoft shares were down 0.03% in pre-market trade.
Elsewhere, Dollar Tree shares surged 3.51% in early trading, as the discount-store operator said its board authorized USD2 billion in equity repurchases and that it agreed with JPMorgan Chase to buy back USD1 billion in shares under a variable maturity accelerated program.
Adobe Systems added to pre-market gains, up 5.94%, after the company said the number of Web subscribers climbed 47% in the fiscal third-quarter, even as sales and profit declined.
Other stocks likely to remain in focus included FedEx, Cracker Barrel, Manchester United, General Mills and Oracle, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.52%, France’s CAC 40 advanced 0.43%, Germany's DAX gained 0.44%, while Britain's FTSE 100 added 0.17%.
During the Asian trading session, Hong Kong's Hang Seng Index slid 0.27%, while Japan’s Nikkei 225 Index jumped 1.35%.
Later in the day, the U.S. was to release data on building permits and housing starts.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.09% rise, S&P 500 futures signaled a 0.07% gain, while the Nasdaq 100 futures indicated a 0.25% increase.
Investors were awaiting the outcome of the Fed’s two-day policy meeting, due to conclude later Wednesday. The central bank was expected to announce plans to start tapering its USD85 billion-a-month asset purchase program.
A recent series of soft economic data raised doubts over how much the U.S. central bank will reduce its stimulus program.
The financial sector was likely to be in focus, after investment bank Jefferies Group said profit dropped 83% in the fiscal third quarter as trading revenue fell to the lowest level since the depths of the financial crisis.
Internet-linked companies were also expected to be active, following reports Internet radio service Pandora Media won a judge’s order to stop a group representing songwriters and music publishers from narrowing the scope of licenses that allow their music to be played.
In the tech sector, Microsoft and Sony were preparing to showcase new consoles at the Tokyo Game Show, where role-playing games were expected to take up more floor space this year. Microsoft shares were down 0.03% in pre-market trade.
Elsewhere, Dollar Tree shares surged 3.51% in early trading, as the discount-store operator said its board authorized USD2 billion in equity repurchases and that it agreed with JPMorgan Chase to buy back USD1 billion in shares under a variable maturity accelerated program.
Adobe Systems added to pre-market gains, up 5.94%, after the company said the number of Web subscribers climbed 47% in the fiscal third-quarter, even as sales and profit declined.
Other stocks likely to remain in focus included FedEx, Cracker Barrel, Manchester United, General Mills and Oracle, scheduled to report quarterly earnings later in the day.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.52%, France’s CAC 40 advanced 0.43%, Germany's DAX gained 0.44%, while Britain's FTSE 100 added 0.17%.
During the Asian trading session, Hong Kong's Hang Seng Index slid 0.27%, while Japan’s Nikkei 225 Index jumped 1.35%.
Later in the day, the U.S. was to release data on building permits and housing starts.