Stock futures point to quiet open ahead of Fed decision

|By:, SA News Editor

Stock futures point to little change at the open as traders await this afternoon's FOMC rate decision and accompanying press conference from Janet Yellen; S&P, Dow and Nasdaq all +0.1%.

The consensus expects the Fed to announce another $10B taper, lowering the amount of monthly asset purchases to $55B/month.

European markets edged higher following upbeat labor market data out of the euro zone and the U.K.; major Asian bourses ended mixed, as the Shanghai Composite -0.2% while the Nikkei +0.4%.

Among earnings, FedEx -0.4% after Q4 results and Its full-year forecast fell short of expectations, citing the severe winter weather, and Oracle -2.8% after also missing estimates.

Treasurys prices are a bit lower, and a one basis point advance has the 10-year yield near 2.69%.

Still ahead: EIA petroleum inventories.