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US futures up ahead of Fed’s economic update

September 18, 2013

NEW YORK (AP) — U.S. stock futures are moving higher for the fourth consecutive day ahead of the latest economic outlook from the Federal Reserve.

Dow Jones industrial futures rose 7 points to 15,472. S&P futures gained 1.5 points to 1,699.80. Nasdaq futures added 8.50 points to 3,192.50.

The central bank on Wednesday may announce the first retreat in its massive bond-buying program which has flooded international markets with cash and kept interest rates low.

Most economists expect a pullback because the economy is recovering.

The Commerce Department says homebuilders sought permits in August for new projects at the fastest pace in five years. And ground was broken on more single-family homes than was seen in the past six months.

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