U.S. stock index-futures edged higher today but investors remained cautious ahead of a Federal Reserve statement that could provide hints on the timing of a rate hike, and amid signs the impasse in Greek aid talks was deepening.
Futures for the Dow Jones Industrial Average gained 0.2 percent to 17,856, while those for the S&P 500 index added 0.1 percent to 2,091.50. Futures for the Nasdaq-100 index picked up 0.1 percent to 4,453.75.
The Fed statement is due at 2:00 p.m., followed by Chair Janet Yellen's news conference half an hour later, with analysts expecting her to focus on signs the economy is recovering after a bumpy start to the year.
Investors will look for clues on when central-bank officials will begin raising rates and how quickly successive rate increases will come.
While Greece has been ratcheting up rhetoric against its creditors, German Chancellor Angela Merkel yesterday struck a more conciliatory tone, saying she was counting on a June 18 meeting of euro-area finance ministers to end the standoff over a deal.
Stocks rose yesterday, with the Dow adding 0.6 percent to 17,904.48. The S&P 500 gained 0.6 percent to 2,096.29.
MOVERS:
T-Mobile US (NYSE:TMUS) gained 2.2 percent after Manager Magazin reported that Comcast Corp. is interested in a deal with the mobile-phone company. T-Mobile’s owner, Deutsche Telekom AG, is holding discussions with multiple interested parties, the publication said, citing people it didn’t identify.
Adobe Systems (NASDAQ:ADBE) slipped 1.2 percent after its third-quarter sales forecast fell short of estimates.
Energen (NYSE:EGN) fell 2.9 percent after initiating an offering of 5.7 million shares.
FedEx (NYSE:FDX) slipped 2.3 percent after reporting revenue and adjusted profit that came in shy of Wall Street expectations for its May quarter, and the midpoint of its fiscal 2016 profit outlook range trailed estimates.
Synergy Pharmaceuticals (NASDAQ:SGYP) soared 49.8 percent in premarket trading after the company's late-stage study of constipation treatment meet the main goal.
Starbucks (NASDAQ:SBUX) inched up 0.1 percent ahead of the bell after the coffee chain said it’s closing its La Boulange pastry shops.
Allergan PLC (NYSE:AGN), a Botox maker, gained 0.4 percent after it agreed to buy Kythera Biopharmaceuticals for about $2.1 billion. Kythera is preparing to launch an injection aimed at reducing so-called double chins.
OTHER MARKETS:
European stock markets struggled for direction as investors continued to monitor developments in Greece.
Asia closed mixed, with the Shanghai Composite Index rebounding from sharp losses earlier in the week.
COMMODITIES:
Gold edged lower. Spot gold was down 0.2 percent at $1,178.70 an ounce. Platinum fell to its lowest since April 2009 at $1,068.50 an ounce.
Brent futures were up $1.17 at $64.87 a barrel by 8:48 a.m. Front month U.S. crude futures were up 96 cents at $60.93 per barrel.