US Stock Futures Edge Higher; All Eyes On Fed Decision

Pre-open movers US stock futures traded slightly higher in early pre-market trade, ahead of the Federal Reserve's latest policy decision. The US current account report for the first quarter will be released at 8:30 a.m. ET. The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET, while the Fed Chairwoman Janet Yellen will hold a press conference at 2:30 p.m. ET. Futures for the Dow Jones Industrial Average surged 4 points to 16,733.00, while the Standard & Poor's 500 index futures rose 0.40 points to 1,934.20. Futures for the Nasdaq 100 index gained 4.75 points to 3,777.00. A Peek Into Global Markets European markets were mostly higher today, with the Spanish Ibex Index rising 0.30%, STOXX Europe 600 Index gaining 0.06%. German DAX 30 index rose 0.16%, French CAC 40 Index surged 0.01% and London's FTSE 100 Index gained 0.33%. In Asian markets, Japan's Nikkei Stock Average rose 0.93%, Hong Kong's Hang Seng Index dropped 0.09%, China's Shanghai Composite Index tumbled 0.54% and India's BSE Sensex tumbled 1.08%. Japan's exports dropped 2.7% y/y, while imports declined 3.6% in May. Broker Recommendation Analysts at Barclays downgraded Covidien plc COV from “overweight” to “equal-weight.” The target price for Covidien has been raised from $82 to $93. Covidien's shares closed at $88.12 yesterday. Breaking news

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• AngioDynamics ANGO today announced the U.S. Food and Drug Administration (FDA) has granted 510(k) clearance for the Celerity tip location system. To read the full news, click here.
• Air Products' APD Board of Directors announced today that Seifi Ghasemi has been named its new chairman, president and chief executive officer, effective July 1. Mr. Ghasemi is currently a director of the Company, and chairman and chief executive officer of Rockwood Holdings ROC. To read the full news, click here.
• Viper Energy Partners, a subsidiary of Diamondback Energy, FANG , and Diamondback today announced the pricing of Viper's initial public offering of 5,000,000 common units representing limited partner interests at $26.00 per common unit. To read the full news, click here.