US STOCKS-Wall St set to open higher as focus shifts to Fed

miércoles 15 de junio de 2016 08:53 GYT

* Fed Chair Janet Yellen to speak at 2:30 p.m. ET

* May producer price index up 0.4 pct vs est 0.3 pct

* Futures up: Dow 45 pts, S&P 4.75 pts, Nasdaq 10.75 pts (Adds details, comments, updates prices)

By Yashaswini Swamynathan

June 15 (Reuters) - Wall Street was set to snap a four-day losing streak on Wednesday as lower chances of an interest rate hike offered solace to investors amid jitters of Britain's possible exit from the European Union.

The Federal Open Market Committee (FOMC) will release its policy statement at 2:00 p.m. ET after a two-day meeting. Fed Chair Janet Yellen is scheduled to hold a press conference at 2:30 p.m. ET.

Yellen had hinted at higher chances of a rate hike than the markets had priced in, but weak May jobs data and economic repercussions of a possible Brexit forced her to take a dovish stance last week.

Traders see a less than 40 percent chance of an interest rate increase until December, according to CME Group's FedWatch tool, but will focus on the course of future hikes.

In March, policymakers dialed back the number of rate hikes this year to two from four, citing weak global growth and financial market volatility.   Continuación...