US STOCKS-Futures little changed ahead of Fed statement

miércoles 18 de junio de 2014 07:58 GYT

* Fed policy statement due at 2:00 p.m. (1800 GMT)

* Adobe climbs in premarket after results

* Futures up: Dow 6 pts, S&P 0.75 pts, Nasdaq 6.75 pts

By Chuck Mikolajczak

NEW YORK, June 18 (Reuters) - U.S. stock index futures were little changed on Wednesday, after a three-day winning streak for the S&P 500 index and ahead of a monetary policy announcement by the Federal Reserve.

* The Fed is widely expected to announce another $10 billion cut to its monthly bond purchases as it wraps up a two-day policy meeting at 2:00 p.m. (1800 GMT), but is likely to make few, if any, other concrete policy moves. Investors will be attuned to whether officials may tip their hand on longer-term plans for interest rates.

* The benchmark S&P index has risen 0.6 percent over the last three days, as investors largely shrugged off mounting tensions in Iraq amid a flurry of merger and acquisition activity and better-than-anticipated manufacturing data.

* S&P 500 e-mini futures were up 0.75 points and fair value - a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract - indicated a slightly higher open. Dow Jones industrial average e-mini futures rose 6 points and Nasdaq 100 e-mini futures added 6.75 points.