Seeking Alpha

Stock futures point to quiet open ahead of Fed decision

  • 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.
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