US STOCKS-Futures lower on global concerns, impending Fed meet

lunes 13 de junio de 2016 07:31 GYT

* Futures down: Dow 58 pts, S&P 6.5 pts, Nasdaq 21 pts

By Yashaswini Swamynathan

June 13 (Reuters) - U.S. stock index futures were lower on Monday as investors scurried to safe haven assets ahead of a Federal Reserve policy meeting starting Tuesday.

* The Federal Reserve Open Market Committee (FOMC) will meet for two days to decide when to raise interest rates for the second time in nearly a decade.

* While Fed Chair Janet Yellen had been dropping hints of a rate hike most of last month, shockingly weak May hiring data and the impending UK vote have forced her to tone down her message.

* Banks, which stand to benefit most if the Fed raises interest rates, were lower in premarket trading on Monday. Bank of America was down 1.6 percent while Citigroup and JPMorgan were off 0.5 percent.

* Yellen is expected to hold a press conference after the meeting on Wednesday.

* Traders have reduced the odds of a hike this month to less than 1 percent and one in July to 33 percent, according to CME Group's FedWatch tool.

* Britain is set to decide on remaining in the European Union on June 23, hampering the value of the pound against the dollar.   Continuación...