The
Fed has previously tried to assuage concerns that rising
inflation would prompt it to tighten its ultra loose monetary
policy, but data on Tuesday showing a jump in producer prices
has again raised expectations the central bank could begin
debating closing the taps at its meeting this week.
The central bank's latest policy statement is expected to be
released with fresh economic projections at 2 p.m. ET (1800
GMT).
At 6:56 a.m. ET, Dow e-minis were down 34 points, or 0.1%, S&P
500 e-minis were down 0.75 points, or 0.02%, and Nasdaq 100
e-minis were up 15.25 points, or 0.11%.
In corporate news, Oracle Corp dropped 4.7% in premarket trading
as the business software maker forecast current-quarter profit
below Wall Street estimates.
Banks including JPMorgan Chase, Bank of America and Goldman
Sachs tracked a dip in the benchmark 10-year Treasury yield.
[/US]
Energy stocks Exxon Mobil and Chevron were subdued even as oil
prices climbed toward $75 a barrel to their highest since April
2019. [O/R]
(Reporting by Shashank Nayar in Bengaluru; Editing by Maju
Samuel)
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