Stock futures tick up as Fed decision looms

Stock index futures edged higher on Wednesday with markets on tenterhooks ahead of the Federal Reserve’s last policy announcement of the year, which might determine the immediate future of its 15-month long program to stimulate the economy. Fed Chairman Ben Bernanke will follow the 2:00 p.m. (1900 GMT) announcement with his final press conference at the helm of the U.S. central bank at 2:30 p.m. Many expect the Fed to continue its quantitative easing program at the current pace of $85 billion monthly asset purchases into next year, but strengthening economic data of late has pushed some to believe it is time to take away the training wheels and allow the world’s largest economy to progress on its own. Jabil Circuit (JBL) shares tumbled 18.6 percent in premarket trading a day after the contract electronics maker said it would sell its warranty repair business in a deal valued at $725 million, and forecast current-quarter results way below Wall Street estimates.


Leave a Reply

Your email address will not be published.