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Fed rate decision and earnings in focus on Wall Street



The U.S. stock index futures were mixed on Wednesday morning as market participants awaited the Federal Reserve's decision on interest rates.

Around 05:00 ET, Dow futures slipped 17 points, indicating a positive opening of more than 9 points. Futures on S&P – which briefly hit a high point all the time in the previous session – and Nasdaq were both marginally lower.

Movement in pre-market trade comes ahead of an expected interest rate cut in the quarter by the US central bank. It should mark the third time this year the Fed has lowered borrowing costs.

Looking ahead, expectations for a new interest rate cut in December are 23% according to CME Group's FedWatch tool, compared to almost 70% earlier this month.

Meanwhile, a Reuters report cited on Tuesday cited a US administration official who said a US-China interim trade agreement may not be completed in time for signing in Chile next month.

Washington and Beijing secured a limited trade agreement earlier this month, in an attempt to end a protracted dispute that has turned off in financial markets and hampered global growth.

Markets had expected the world's two largest economies to secure a trade weapon at a summit in Asia-Pacific Economic Cooperation in mid-November.

Data, Revenue

On the data front, the ADP salary for October will be released around 8:1

5 ET. An advanced reading of real GDP for the third quarter will follow a little later in the session.

In corporate news, GlaxoSmithKline, CME Group and Yum Brands are among some of the largest companies that will report earnings before the opening clock. [19659002] Apple, Facebook and Starbucks are scheduled to report the latest quarterly figures.


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