US Stock Futures Slip Ahead Of Fed Decision

Pre-open movers

US stock futures traded lower in early pre-market trade. Data on GDP growth for the first quarter will be released at 8:30 a.m. ET, while the pending home sales index for March will be released at 10:00 a.m. ET. The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET. Futures for the Dow Jones Industrial Average tumbled 29.50 points to 18,028.50, while the Standard & Poor's 500 index futures fell 3.05 points to 2,108.95. Futures for the Nasdaq 100 index dropped 10.80 points to 4,505.20.

A Peek Into Global Markets

European markets were lower today, with the Spanish Ibex Index dropping 0.41 percent, STOXX Europe 600 Index falling 0.39 percent and German DAX 30 index dropping 0.34 percent. French CAC 40 Index slipped 0.40 percent and London's FTSE 100 Index fell 0.23 percent.

In Asian markets, China's Shanghai Composite Index gained 0.01 percent, Hong Kong's Hang Seng Index fell 0.15 percent and India's BSE Sensex fell 0.62 percent.

Broker Recommendation
Analysts at SocGen downgraded Procter & Gamble Co (NYSE: PG) from Buy to Hold and lowered the price target from $96.00 to $86.00.

Procter & Gamble shares fell 0.30 percent to $80.18 in pre-market trading.

Breaking news

• Time Warner Inc (NYSE: TWX) reported stronger-than-expected earnings for the first quarter on Wednesday. To read the full news, click here.
• AstraZeneca (NYSE: AZN) today announced that the US Food and Drug Administration (FDA) has accepted a supplemental new drug application (sNDA) and granted Priority Review for BRILINTA® (ticagrelor) tablets for patients with a history of heart attack. To read the full news, click here.
• Eaton Corp plc (NYSE: ETN) reported better-than-expected earnings for the first quarter on Wednesday. To read the full news, click here.
• Twitter Inc (NYSE: TWTR) reported downbeat Q1 sales and issued a weak forecast. However, the company's earnings exceeded analysts' estimates. To read the full news, click here.