US STOCKS-Wall Street set to open higher, S&P 500 eyes record
* Futures up: Dow 44 pts, S&P 6 pts, Nasdaq 13 pts (Updates prices, adds comment)
By Rodrigo Campos
NEW YORK, Sept 18 (Reuters) - U.S. stocks were set to rise at the open on Thursday, with the S&P 500 on track to test resistance at its record high a day after the U.S. Federal Reserve renewed its commitment to keeping interest rates low.
The Fed said Wednesday at the conclusion of a two-day policy meeting it would keep interest rates near zero for a "considerable time," language that was supportive of equities and other risky assets that had been expected by some to be dropped off its post-meeting statement.
The U.S. central bank also indicated it could raise borrowing costs faster than previously forecast when it starts moving, boosting the U.S. dollar.
The Dow industrials closed Wednesday at a record high with the S&P coming within a point of its intraday record.
"The Dow made an all-time high and then pulled back which is typical of the way the market has been making new records, and that's likely to be the case with the S&P 500," said Bruce Zaro, chief technical strategist at Delta Global Asset Management in Boston.
"Today the S&P could make a nominal (intraday) new high, though I don't think it is important that it closes at a record."
Zaro said options expiration this week, as well as traders continuing to digest the Fed's statement and press conference, would likely contribute to some volatility. Continuación...