Here comes the FedStocks set for flat open as investors await the central bank's decision on interest rates later today.LONDON (CNNMoney.com) -- U.S. stocks were poised for a flat open Tuesday, as investors waited to see how much relief the Federal Reserve would deliver to markets. At 5:11 a.m. ET, Nasdaq and S&P futures edged higher, pointing to a flat start for stocks. Investors are eagerly anticipating the Fed's decision on short-term interest rates, due at 2:15 p.m. ET. Markets are expecting the central bank to lower rates by a quarter of a percentage point. Traders, however, haven't ruled out a bigger, half of a percentage point cut. The prospect of the Fed lowering rates has helped overshadow the deepening mortgage fallout. UBS (Charts) and Washington Mutual (Charts, Fortune 500) both issued profit warnings on Monday due to problems in the housing market. Meanwhile, mortgage finance firms Fannie Mae (Charts) and Freddie Mac (Charts, Fortune 500) are changing the way they buy mortgages in an effort to reduce the number of late home loans they buy. Among stocks to watch, Boeing (Charts, Fortune 500) is due to give an update on the progress of its 787 Dreamliner. In global trade, major Asia markets finished the session higher, and European stocks advanced in the early going. |
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