U.S. stock index futures were mixed on Wednesday morning, as market participants waited for the Federal Reserve's decision on interest rates.
Around 6:30 a.m. ET, Dow futures indicated a positive open of about 20 points. Futures on the S&P — which briefly touched an all-time high on Tuesday — and the Nasdaq were little changed from the previous session.
The moves in premarket trade come ahead of an expected quarter-point rate cut by the U.S. central bank. It would mark the third time this year the Fed has lowered borrowing costs.
Looking ahead, market expectations for another interest rate cut in December are at 23%, according to CME Group's FedWatch tool, compared with almost 70% earlier this month.
Meanwhile, a report by Reuters published Tuesday cited an unnamed U.S. administration official as saying an interim trade agreement between the U.S. and China might not be completed in time for signing in Chile next month.
Washington and Beijing secured a limited trade deal earlier this month, in an attempt to end a protracted dispute that has battered financial markets and hammered global growth.
Markets had been expecting the world's two largest economies to secure a trade truce at an Asia-Pacific Economic Cooperation summit in mid-November.
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October 30, 2019 at 01:48PM
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US futures point to mixed open as investors await Fed rate decision - CNBC
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