US Stock Futures Down; All Eyes On Fed Decision

Pre-open movers

US stock futures traded lower in early pre-market trade. 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 declined 63.50 points to 17,713.50, while the Standard & Poor's 500 index futures fell 6.30 points to 2,059.95. Futures for the Nasdaq 100 index slipped 11.80 points to 4,358.70

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index dropping 0.25%, STOXX Europe 600 Index falling 0.20% and German DAX 30 index dropping 0.96%. French CAC 40 Index slipped 0.29% and London's FTSE 100 Index rose 0.63%.

In Asian markets, Japan's Nikkei Stock Average gained 0.55%, Hong Kong's Hang Seng Index rose 0.91%, China's Shanghai Composite Index gained 2.13% and India's BSE Sensex slipped 0.40%. Japanese exports rose 2.4% y/y in February, while imports slipped 3.6%.

Broker Recommendation
Analysts at CRT Capital upgraded Pandora Media, Inc. (NYSE: P) to Buy and raises the price target from $16.00 to $22.00.

Pandora shares rose 1.03% to close at $15.73 yesterday.

Breaking news

• AstraZeneca (NYSE: AZN) today announced positive top-line results from the Phase III PINNACLE programme, which included two pivotal 24-week studies (PINNACLE 1 and PINNACLE 2) to investigate the potential of PT003 to improve lung function in patients with Chronic Obstructive Pulmonary Disease (COPD). To read the full news, click here.
• Lionsgate (NYSE: LGF) and Hunan TV & Broadcast Intermediary Co. Ltd. have established a partnership that includes a multiyear slate co-financing deal covering qualifying Lionsgate feature films, the two companies announced today. To read the full news, click here.
• HubSpot (NYSE: HUBS) announced Tuesday, the pricing of its follow-on public offering of 4,114,486 common shares at a price to the public of $37.00 per share. To read the full news, click here.
• General Mills, Inc. (NYSE: GIS) reported stronger-than-expected earnings for the fiscal third quarter on Wednesday. To read the full news, click here.