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Jan 30, 2019

US Futures: US futures slightly higher as markets await key Fed decision

Spriha Srivastava





U.S. stock index futures rose slightly 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 03:30 a.m. ET, Dow futures were up 28 points, indicating a slightly higher open. S&P and Nasdaq futures pointed to a slightly higher open too.
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.
Investors are also looking to the outcome of the Federal Reserve’s rate review later in the session, amid heightened expectations policymakers at the U.S. central bank will reinforce their dovish stance given signs of an economic slowdown.
On the data front, an ADP employment report is due at 08:15 a.m. ET and a pending home sales index is due to be reported at 10.00 a.m. ET.
Market focus will also be on a slew of earnings expected on Wednesday. Alibaba, Boeing, McDonald’s, Novartis, Anthem, Nasdaq OMX, and Royal Caribbean will be reporting before the bell. Meanwhile, Facebook, Microsoft, Qualcomm, Tesla Motors and Visa are among some of the companies expected to report after the bell.
- CNBC’s Sam Meredith contributed to this report.

Source: CNBC

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