US STOCKSFutures Hold Steady with Fed Meeting in Focus

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Futures Dow flat, SP up 0.06, Nasdaq rises 0.12

June 15 Reuters Futures tied to the SP 500 and the Nasdaq held near record highs on Tuesday as investors looked for comments from the Federal Reserve about whether a recent jump in inflation would prompt a soonerthanexpected tapering in monetary policy.

Assurance from the Fed that rising prices are transitory coupled with falling U.S. Treasury yields have helped ease some concerns over inflation but investors remain cautious as they await the Feds commentary on its inflation stance.

The benchmark SP 500, the bluechip Dow Jones and the techstocks focused Nasdaq have gained 13.3, 12.3 and 10, respectively so far this year as investors tried to find their ground between inflation concerns and optimism about an economic reopening.

The Fed is likely to announce in August or September a strategy for reducing its massive bond buying program, but wont start cutting monthly purchases until early next year, a Reuters poll of economists found.

At 650 a.m. ET, Dow eminis were down 10 points, or 0.03, SP 500 eminis were up 2.75 points, or 0.06, and Nasdaq 100 eminis were up 16.75 points, or 0.12.

In a new policy statement and economic projections due on Wednesday, the U.S. central bank is expected to point to continued strength in the economy and acknowledge the first conversations among its policymakers about when and how fast to pare back the massive bondbuying program.

In corporate news, Biogen Inc fell 0.9 in premarket trading…

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