Futures up solidly ahead of Fed meeting

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Associated Press

Posted on December 16, 2013 at 6:01 AM

Updated Monday, Dec 16 at 6:04 AM

NEW YORK (AP) — Stock futures are rising solidly a day before the Fed opens a two-day policy meeting.

The government also releases data on worker productivity and industrial production Monday.

Dow Jones industrial futures are up 77 points to 15,778. S&P futures have gained 7.9 points to 1,776.40. Nasdaq futures are up 15.50 points to 3,468.75.

The U.S. Federal Reserve will release a statement and projections for the economy Wednesday and the wording of that statement will be key. Most do not expect the Fed to begin pulling back on its monthly $85 billion bond-buying program, but economic data has been so strong of late, policy makers may leave hints about when that wind-down could begin.

Economists expect that the government will report an uptick in worker productivity in the third quarter and industrial production in November.

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