U.S. stock index futures rose Wednesday morning as investors await new guidance from the Federal Reserve and keep an eye on the outcome of high level trade talks between the U.S. and China.
At 7:04 a.m. ET, Dow Jones Industrial Average futures were up 99 points, indicating a gain of 110.04 points at the open. S&P 500 and Nasdaq 100 futures also pointed to a higher open.
The Fed is largely expected to have kept interest rates unchanged at their latest meeting. However, investors will look for clues regarding the Fed’s plans to roll off its massive balance sheet.
Investors continued to pore through the latest batch of earnings season, which includes tech giant Apple. The stock rose more than 5 percent in the premarket after reporting a quarterly profit that barely beat estimates. Shares of AMD and Anthem also rose 10.4 percent and 4.6 percent, respectively, after the companies released their earnings.
Market focus is largely attuned to global trade developments, with Chinese Vice Premier Liu He arriving in Washington to meet U.S. officials on Wednesday. Treasury Secretary Steven Mnuchin said on Tuesday that he expected the world’s two largest economies to make significant progress toward a comprehensive trade agreement this week.
However, many market participants remain skeptical about whether the economic giants can bridge differences over a number of issues, including intellectual property rights and technology transfers.
On the data front, an ADP employment report is due at 8:15 a.m. ET and a pending home sales index is due to be reported at 10 a.m. ET.
— RECOMMENDED —
$330,000 per year trading part-time?
Check Out This Video to Learn Jason’s 3 Simple Trading Patterns
Source: cnbc.com | Original Link