Investing.com – U.S. futures pointed to a mixed opening on Tuesday as the Federal Reserve’s two-day policy meeting kicks off.
The S&P 500 futures inched forward half a point or 0.03% as of 6:48 AM ET (11:48 GMT) while Dow futures increased 23 points or 0.09% Meanwhile tech heavy Nasdaq 100 futures was down one and a half points or 0.03%.
The Federal Open Market Committee begins its monetary policy meeting, which wraps up on Wednesday. The central bank is expected to raise interest rates. Investors will be listening closely for any indication of potential rate hikes in 2018. Some worry that recent sluggish economic data could cause a delay of further hikes.
Sony Corp ADR (NYSE:SNE) was among the biggest winners in pre-market trading, rising 2.00% while Wheaton Precious Metals Corp (NYSE:WPM) increased 2.07% and UK-based energy firm TechnipFMC PLC (NYSE:FTI) was up 1.72%.
Elsewhere financial services firm HSBC Holdings (LON:HSBA) PLC ADR (NYSE:HSBC) dropped 0.36% while Chinese e-commerce firm Alibaba (NYSE:BABA) fell 0.75% and telecommunications firm Nokia (HE:NOKIA) slipped 0.44%.
In economic news, the producer price index is expected for 8:30 AM ET (13:30 GMT).
Meanwhile some European finance ministers are worried that certain proposals in the U.S. tax reform bill could negatively impact international trade and the financial sector. A group of ministers sent a letter to U.S. Treasury Secretary Steven Mnuchin, asking the U.S. to reconsider the measures. Republican leaders are hoping to pass the bill before the Christmas holiday. .
Stocks in Europe were mostly up. Germany’s DAX rallied 11 points or 0.09% while in France the CAC 40 increased 13 points or 0.24% and in London, the FTSE 100 was up 19 points or 0.26%. Meanwhile the pan-European Euro Stoxx 50 recovered six points or 0.19% while Spain’s IBEX 35 slumped 33 points or 0.33%.
In commodities, gold futures fell 0.13% to $1,245.30 a troy ounce while crude oil futures rose 0.55% to $58.31 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, inched down 0.11% to 93.84.