U.S. stock index futures pointed to a sharply higher open,
with Dow futures momentarily jumping over 150 points
as the all-important two-day Federal Reserve meeting gets underway
[url=The Fed begins meeting Tuesday, and will release its post meeting statement Wednesday at 2 p.m. ET.]The Fed begins meeting Tuesday, and will release its post meeting statement Wednesday at 2 p.m. ET.[/url]
Wall Street is preparing for rate hike Wednesday for the first time since June 2006.
But before that, markets will have a host of data releases to digest Tuesday, with November Consumer Price Index (CPI) data due at 8:30 a.m. ET
"In the U.S., while lower fuel prices are expected to constrain the monthly change in headline CPI to zero, this would still take the annual rate up close to 0.5 percent year on year, its firmest since end-2014," said Chris Scicluna, head of economic research at Daiwa Capital Markets.
The Empire Manufacturing index is also due at 8:30 a.m., followed by the NAHB housing market index at 10:00 a.m. and the latest capital inflows data and 4:00 p.m.
The Fed is widely expected to raise the fed funds rate by a quarter point Wednesday, while emphasizing that it will be slow to hike rates further. .
with Dow futures momentarily jumping over 150 points
as the all-important two-day Federal Reserve meeting gets underway
[url=The Fed begins meeting Tuesday, and will release its post meeting statement Wednesday at 2 p.m. ET.]The Fed begins meeting Tuesday, and will release its post meeting statement Wednesday at 2 p.m. ET.[/url]
Wall Street is preparing for rate hike Wednesday for the first time since June 2006.
But before that, markets will have a host of data releases to digest Tuesday, with November Consumer Price Index (CPI) data due at 8:30 a.m. ET
"In the U.S., while lower fuel prices are expected to constrain the monthly change in headline CPI to zero, this would still take the annual rate up close to 0.5 percent year on year, its firmest since end-2014," said Chris Scicluna, head of economic research at Daiwa Capital Markets.
The Empire Manufacturing index is also due at 8:30 a.m., followed by the NAHB housing market index at 10:00 a.m. and the latest capital inflows data and 4:00 p.m.
The Fed is widely expected to raise the fed funds rate by a quarter point Wednesday, while emphasizing that it will be slow to hike rates further. .
