June 17, 2014- Stock Trade Higher Ahead of 2 Day FOMC Meeting

Trading in the U.S. index futures suggests that Wall Street stocks may open higher on Tuesday, as traders gear up for the 2-day FOMC meeting that would kick start later in the day. Although no substantial change in stance is expected, economists expect the Fed to trim its asset purchase program by another increment and tinker with its forecasts. Asian stocks scrambled to a mixed close earlier in the global trading day, while the European markets are showing buoyancy after declining for two straight sessions amid the release of mixed economic data. Traders in the domestic markets may also react to a report on housing starts and oil prices, which has ran up sharply in recent sessions, prodded by the political tensions in Iraq. The Dow futures are adding 33 points, the S&P 500 futures are moving up 3 points and the Nasdaq 100 futures are advancing 8.75 points. U.S. stocks closed a volatile and yet lackluster session on Monday slightly higher, as some positive domestic economic data offset valuation and geopolitical concerns.