Futures slightly higher on Fed day


Stock index futures are marginally higher ahead of the results of the FOMC's 2-day meeting and a new set of "dots" (showing members' expectations of the timing and pace of rate hikes). Markets seem to have braced for a somewhat more hawkish view, with Eurodollar futures markets  now pricing in the first rate hike in less than a year. There's also Janet Yellen's press conference following the meeting results.

Europe is posting a moderate advance and the Nikkei gained nearly 1% overnight.

The 10-year Treasury yield is up one basis point at 2.64% and gold is lower by $1 to $1,271 per ounce.

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