US futures edge lower as Fed starts 2-day meeting
NEW YORK (AP) — U.S. stock futures are edging lower in very light trading as the Federal Reserve opens a two-day policy meeting.
Most are expecting some drawdown of the central bank’s monthly $85 billion bond-buying program.
Dow Jones industrial futures are down 8 points to 15,423. S&P futures have lost 1.7 points to 1,689.50. Nasdaq futures are down 2 points to 3,159.
There is also some pressure on retailers early Tuesday.
Following a weak back-to-school shopping period, the research firm ShopperTrak said it expects holiday sales will be lackluster as well.
Americans, while not losing as many jobs as before, are not seeing their pay keep up with expenses, and they’re not spending much.
The Labor Department reported Tuesday that consumer prices edged up 0.1 percent in August.