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Jun 15, 2016

U.S. Stock Market Future Indications, by CNBC - June 15, 2016: Wall Street Eyes Rebound Ahead of Fed Decision.

cnbc.com
 
Matt Clinch
 
U.S. stock index futures indicated a higher open Wednesday, following some hefty selling in global equity markets, as investors eyed an upcoming rate decision by the U.S. Federal Reserve.

The Federal Open Market Committee is expected to end its two-day meeting at 2 p.m. ET without a further hike in interest rates. Its post-meeting is not expected to shed any light on the timing of its next rate rise. But it is expected to continue to say it will hike rates if the economic data is good enough.
The Fed could also note that it is monitoring international developments, particularly since the upcoming U.K. vote on exiting the European Union has been troubling markets. Investors continue to fret over a so-called Brexit with daily polls showing a strengthening for the leave campaign.
On Wednesday, British Finance Minister George Osborne warned voters that he will take new austerity measures if the country decides to leave the EU in next week's referendum.
"If you think the current level of market volatility is high, it will get a lot worse if Britain votes for Brexit next week. It's not a panic yet but there are clearly signs of stress in the (City of London) and the wider markets. Traders are getting nervous and for good reason," Andrew Edwards, CEO of spread better ETX Capital, said in a morning note.
"Several recent polls suggest Britain will head for the exits - the latest survey gives leave a 7-point lead."

U.S. stocks closed lower Tuesday, amid declines in oil prices. On Wednesday morning, European stocks traded higher after a rocky start and in Asia, Chinese markets led gains in a mixed session, shrugging off a decision by stock index provider MSCI on Tuesday to delay inclusion of mainland-traded Chinese A shares in its key emerging market index.

Back in the U.S., traders will also be monitoring fresh data with PPI figures for May and an Empire State survey due at 8:30 a.m. ET. Industrial production numbers are due at 9:15 a.m. ET. Fed Chair Janet Yellen's press briefing will take place at 2:30 p.m. ET and TIC data will be released at 4 p.m. ET.

—CNBC's Patti Domm and Saheli Roy Choudhury contributed to this article.