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U.S. stocks were set to open slightly lower Tuesday morning as investors braced for the start of a two-day Federal Reserve policy meeting.
Futures for the Dow Jones Industrials demurred 59 points, or 0.2%, early Tuesday to 27,021
Futures for the S&P 500 lost four points, or 0.1%, at 2,997.50
NASDAQ Composite futures dropped 7.25 points, or 0.1%, to 7,872.25
Adobe Inc. and FedEx are among a number of companies reporting earnings Tuesday.
The Fed is set to kick off its meeting on Tuesday with an announcement scheduled for Wednesday at 2 p.m. ET. Fed Chairman Jerome Powell is set to hold a news conference after the central bank’s policy announcement.
Market expectations are for the Fed to cut rates for the second time this year. However, expectations for the Fed to keep rates unchanged have risen to 34.2% from 7.7% a week ago.
Investors will be looking ahead to a new business leaders survey, due at 8:30 a.m. ET; industrial production numbers will be out at 9:15 a.m.; and the housing market index due at 10 a.m. ET.
Overseas, in Japan, markets returned Tuesday from holiday with a gain of 0.1%, while in the Hong Kong, the Hang Seng index slouched 1.2%
Oil prices lopped off 80 cents to $62.10 U.S. a barrel.
Gold prices gained 30 cents to $1,511.80 U.S. an ounce.
