NEW YORK: US stock index futures edged higher today, supported by expectations that the Federal Reserve (Fed) will deliver a long-awaited interest rate cut later this week at a meeting widely seen as one of the most divisive in recent history.
Delayed data last week showed that consumer spending increased moderately towards the end of the third quarter, giving investors greater confidence that the Fed will focus on lowering borrowing costs on Wednesday, which would help shore up the labour market.
Inflation has so far proved sticky, making most policymakers cautious about lowering borrowing costs, although a few influential Fed policymakers have adopted a more dovish stance in recent weeks.