US futures point to slightly higher open
U.S. stock index futures were mixed Wednesday morning, as investors wait to hear from the Federal Reserve.
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At around 1:30 a.m. ET, Dow futures dropped 15 points, but indicated a positive open of more than 14 points. Futures on the S&P and Nasdaq were both pointing to a slightly higher open.
Market players seem cautious amid uncertainty on the U.S.-China trade front. There is no clear indication that both countries will reach an agreement over trade that could stop or reduce the current level of tariffs. The U.S. is due to impose fresh duties on Chinese goods by Sunday.
The Wall Street Journal reported Tuesday that the U.S. plans to delay these additional tariffs on Beijing as both sides try to work out an agreement. However, also on Tuesday, White House economic advisor Larry Kudlow said the December 15 deadline is still “on the table.”
Meanwhile, the Federal Reserve will issue a statement on its latest monetary policy decisions at 2:00 p.m. ET. Fed Chairman Jerome Powell will then address the press at 2:30 p.m. ET. In its October meeting, the Fed decided to cut the Fed Funds Rate to a range of 1.5% to 1.75%.
On the data front, there will be inflation numbers at 8:30 a.m. ET and Federal Budget figures at 2:00 p.m. ET.
In corporate news, American Eagle Outfitters, Lululemon Athletica, Nordson are due to report Wednesday.
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