June 18, 2013 -- 8:30 a.m. ET - 06/18/13

Stock index futures are trading in positive territory this morning. The Dow is up 0.2%. The S&P 500 is gaining 0.1% while the NASDAQ trades 0.3% above fair value on Globex. The major averages are poised to open slightly higher ahead of start of the Feds two-day monetary policy meeting. Futures have pared gains following reports on inflation and the housing market. Prices paid by consumers rose 0.1% in May, less than projections for a 0.2% increase. Excluding food and energy components, the consumer price index was up 0.2%, in line with consensus estimates. Separate reports showed housing starts rose 6.8% to 914,000 and building permits fell 3.1% to 974,000 last month. On the earnings front, Adobe is advancing 1.0% to $43.82 ahead of its scheduled first quarter earnings release after the closing bell tonight. Hormel is falling 4.8% to $38.70 after the meat producer reduced its full year forecast. Shares of Sony are up 3.9% to $21.52 after a report hedge fund Third Point increased its stake in the electronics company. European markets are higher at midsession. The FTSE is advancing 0.9% in London. The DAX is up 0.1% in Frankfurt. Asian markets were mixed and little changed overnight. The Nikkei slipped 0.2% in Tokyo. Chinas Shanghai Composite added 0.1%. Treasuries remain lower following this mornings economic releases. The 10-year note is down 4/32 to yield 2.20%.

 

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