Stock Futures Rise as Fed Meets to Mull Stimulus Rollback
Written by: Keris Alison Lahiff
Tickers in this article: AMC FDX LEN
NEW YORK (TheStreet) -- U.S. stock futures gaining in premarket trading Wednesday ahead of day two of the Federal Reserve's last policy-setting meeting of the year. Of most concern, the Fed will determine whether the economy is robust enough to handle a rollback of its $85-billion-a-month bond-buying program. The stimulus program has been a key component to market growth in 2013.
- S&P 500 futures were advancing 0.38% to 1,779, Dow Jones Industrial Average futures added 0.3% to 15,857 and Nasdaq futures rose 0.33% to 3,472.
- Stock markets fell on Tuesday as Wall Street continued to worry over a Fed decision.
- Fed Chairman Ben Bernanke, due to end his second four-year term in January, will give his final quarterly news conference on Wednesday. A rates decision out of the Federal Open Market Committee is expected at 12:30 p.m. EST.
- On the economic calendar, housing starts and building permits for November are due for release at 8:30 a.m.
- European stocks were moving higher, buoyed by better-than-expected data from a German business sentiment survey. Germany's DAX added 0.95%, while France's CAC 40 and the U.K.'s FTSE 100 climbed 0.62% and 0.32%, respectively.
is slated to report second-quarter earnings before the bell. The postage and shipping giant is expected to post net income of $1.64 a share on $11.43 billion in revenue, according to analysts surveyed by Thomson Reuters.
gained 3.4% before market open after announcing fourth-quarter revenue that beat expectations by $40 million.
- Movie theater chain AMC Entertainment Holdings (AMC) will begin trading on the New York Stock Exchange, with shares priced at $18 a share.
--Written by Keris Alison Lahiff.