June 14, 2017 / 11:33 AM / a year ago

US STOCKS-Futures edge up ahead of Fed rate decision

* Futures up: Dow 37 pts, S&P 3 pts, Nasdaq 13.75 pts

By Yashaswini Swamynathan

June 14 (Reuters) - U.S. stock index futures edged up on Wednesday as investors braced for a near-certain interest rate hike by the Federal Reserve.

* Traders have placed a 94 percent chance of the central bank pulling the trigger on a second rate increase this year. The hike will push rates above 1 percent for the first time since the immediate aftermath of the collapse of Lehman Brothers in 2008.

* The Fed will release its decision at 2:00 p.m. ET (1600 GMT) followed by Fed Chair Janet Yellen’s press conference.

* Investors will also be looking for any details on the Fed’s plans to trim its $4.5 trillion balance sheet in the face of improving economic conditions.

* Oil prices fell on Wednesday after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite a pledge to cut output.

* A rebound in technology shares drove U.S. stocks to record highs on Tuesday. Investors will test whether the recovery holds or if worries about valuations could dominate the sector.

* The U.S. Commerce Department will issue a report on May retail sales, which are expected to show a smaller rise of 0.1 percent after a 0.4 percent gain in April. The report is due at 8:30 a.m. ET.

* Shares of H&R Block rose 11.2 percent to $30.01 after the tax preparation service provider’s fourth-quarter revenue and profit beat analysts’ expectations.

* Aldeyra Therapeutics dropped 18.6 percent to $4.15 after the company said it failed to meet a goal in its conjunctivitis trial.

Futures snapshot at 7:09 a.m. ET:

* Dow e-minis were up 37 points, or 0.17 percent, with 5,550 contracts changing hands.

* S&P 500 e-minis were up 3 points, or 0.12 percent, with 92,828 contracts traded.

* Nasdaq 100 e-minis were up 13.75 points, or 0.24 percent, on volume of 6,927 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D’Silva)

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