Stock futures move higher ahead of Fed decision

[December 16, 2009]  WASHINGTON (AP) -- Stock futures are indicating a higher opening on Wall Street ahead of fresh data on consumer prices and housing and the Federal Reserve's decision on interest rates.

Overseas markets were mostly higher.

The Fed, which concludes its two-day meeting Wednesday afternoon, is expected to stick to its easy monetary policy and keep rates unchanged.

Before that decision, the Labor Department is set to report on consumer prices for November, a day after government data showed wholesale prices jumped more than expected. Analysts expect a rise in consumer prices.

Data on building permits and housing starts is also expected.

Dow Jones industrial average futures are up 47, or 0.5 percent, at 10,506. Standard & Poor's 500 index futures are up 6.70, or 0.6 percent, at 1,110.60, while Nasdaq 100 index futures are up 13.25, or 0.7 percent, at 1,808.25.

[Associated Press; By IEVA M. AUGSTUMS]

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