US Futures Near Unchanged as Investors Await Clarity on Greece and Fed Rate Increase

U.S. stock futures were flat to slightly lower on Wednesday as investors took a wait-and-see approach before minutes are released from the monetary policy meeting three weeks ago and as no agreement had been reached between Greece and its debtors.

At 2:00 p.m. E.T. on Wednesday, the Federal Reserve’s Open Market Committee will issue minutes from its previous meeting, shedding more light on its stance regarding the economy and interest rates.

In economic data, January housing starts, out at 8:30 a.m., are expected to have edged down to 1.070 million from 1.089 million in December. The consensus range is between 1.050 million and 1.110 million, according to data compiled by Econoday.

Meanwhile, the producer price index for final demand in January is expected to have slipped 0.5% in January, widening from a 0.3% decline in December. The consensus range is for a drop between 1.1% and 0.1%.

At 9:15 a.m. the industrial production in January is expected to have gained 0.4% from December, when it edged down 0.1%. The consensus rang for January is between a 0.1% gain and a 1.0% gain.

In equities, Garmin ( GRMN ) fell nearly 6% after reporting Q4 earnings that were shy of estimates while Russia’s internet search provider Yandex ( YNDX ) jumped 10% after its Q4 earnings exceeded the Street view, even as it warned of an uncertain outlook.

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