Futures rise as Fed ends two-day meeting

AP News
Posted: Mar 20, 2013 8:12 AM
Futures rise as Fed ends two-day meeting

NEW YORK (AP) — Stock futures are rising ahead of a policy statement from the Federal Reserve, which is likely to push forward aggressive measures to ramp up the economy.

Dow Jones industrial futures are up 40 points to 14,428. S&P futures have added 5.6 points to 1,547.80. Nasdaq futures are up 15 points to 2,794.

The Fed's two-day meeting ends Wednesday, after which it will issue new economic forecasts. Though signs of a broadening economic recovery are clear, Chairman Ben Bernanke doesn't want to endanger the momentum, given the uncertain, global economic climate.

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Highlighting the choppy nature of the recovery, FedEx is reporting sharply lower quarterly earnings and says it will cut capacity to Asia with so many businesses tightening their belts and using ground transport.