Futures higher ahead of Fed meeting
Evan McDaniel | email@example.com
U.S. equity indexes are pointing toward a positive open ahead of today's heavy economic calendar as the Federal Open Market Committee begins its two-day meeting.
S&P 500 futures are higher by 3 points, or 0.22 percent, to 1383.75 at the time of this writing. Nasdaq 100 contracts are up 9.25 points, or 0.35 percent, to 2645.
European indexes are mixed, with the German DAX up 0.46 percent but the U.K. FTSE 100 down 0.36 percent. The euro/dollar is up 0.16 percent to 1.2289 after trading as high as 1.231 this morning, putting pressure on the greenback.
Asian indexes closed higher, led by a 1.08 percent increase in Hong Kong's Hang Seng. The Nikkei 225 rose 0.69 percent after Japan reported positive jobs data.
Commodities are reflecting today's bullish theme as crude futures are up 0.17 percent to 89.90 and copper prices are higher by 0.95 percent to 3.448.. Spot gold futures are gaining 2.80 points, or 0.17 percent, to 1626.90, slightly off its session high of 1631.10.
In company-specific news, shares of Seagate are falling more than 9 percent 28.04 in the pre-market after the hard-drive company missed earnings expectations after yesterday's close.
Apple is up about 1.3 percent on news that it may reveal an all-new iPhone design in September.
BP is down more than 4 percent after posting disappointing quarterly results, citing weakening refinery demand.
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Corporate earnings lead the calendar
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Equities pull back after record close
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Chicago Fed data only calendar item
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Today's only item is the Chicago Federal Reserve's index of economic activity at 8:30 a.m. ET. The report seldom moves broader sentiment.
Stocks attempt to stage a rebound
May 17, 2013
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