Futures modestly higher ahead of Fed meeting

NEW YORK (AP) — U.S. stock futures are up modestly, with most investors taking a wait-and-see approach ahead of a two-day Fed policy meeting.

Dow Jones industrial futures are up 33 points to 15,516. The broader S&P futures have added 4.3 points to 1,686.800. Nasdaq futures are up 11.25 points to 3,076.75.

The meeting of the U.S. Federal Reserve begins Tuesday, though almost no one is expecting any change in aggressive policies intended to bolster the economic recovery.

The Fed has kept its key short-term interest rate close to zero and has vowed to leave it there until the unemployment rate dips below 6.5 percent. It now stands at 7.6 percent.

Also on Tuesday, Standard & Poor’s releases the S&P/Case-Shiller index of home prices for May at 9 a.m. Eastern.

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