US Stock Futures Signals Flat Start On Wall Street, Federal Reserve Decision In Focus

US stock futures moved up slightly after the mid-term elections. The investors are also awaiting the decision of Federal Reserve. Futures for the Dow Jones Industrial Average rose 11 points to 11,163 and those for the S&P 500 index gained 1 point to 1,193.70. Futures for the Nasdaq 100 index moved up 0.75 point to 2,151.00. Strategists at FxPro said, “The market reaction has been pretty muted, in part because it was very much anticipated and naturally because the Fed result is the greater near-term risk factor.” The analysts mentioned, “On the bigger picture, the question is the extent to which this leads to policy paralysis or the president working with Republicans to reduce the deficit. Both Reagan and Clinton successfully came back from midterm defeats, so politically there's still everything to play for.” The Fed is scheduled to announce its policy at 2:15 p.m. ET. The data on ADP employment for October is due at 8:15 a.m., while the data on ISM services for October along with factory orders for September is due at 10 a.m. ET. Jim Reid, strategist at Deutsche Bank said, “Overall, given the disparate voices within the Fed, we think the approach will be a balance between promising the potential for big action, but committing less up front and giving themselves lots of wiggle room to adapt to changing circumstances.” AOL Inc AOL, Qwest Communications International Inc Q and Garmin Ltd. GRMN are scheduled to report their quarterly earnings before the opening bell. Electronic Arts Inc ERTS reported an unexpected FGQ2 adjusted profit yesterday. European stocks moved up with the STOXX Europe 600 Index gaining about 0.45%. The Central Bank of Iceland has reduced its key interest rates by 0.75 percentage point. The Hong Kong's Hang Seng index crossed the 24,000 level, gaining about 2.00%. The dollar moved down versus other major currencies, with the dollar index (DXY) down about 0.09%. Read more from Benzinga's Markets.