July 29, 2015- Stocks Trade Higher Ahead of Fed Statement

Wall Street may start Wednesday's session higher, though the eventual trend depends on what the Federal Reserve has to relay through its monetary policy statement due in the afternoon. After Asian stocks closed mostly higher, positive earnings and economic data are giving a lift to stocks across the Atlantic. The dollar is currently mixed, as commodities are mostly firmer. The yield on the benchmark 10-year bonds is higher. Although no change is expected in interest rates at the current meeting, traders are likely to sift through the statement to see if interest rate normalization is imminent. The Dow futures are rising 39 points, the S&P 500 futures are adding 4.25 points and the Nasdaq 100 futures are up 10.50 points.