Stock futures are little changed as traders await key Fed rate outlook: Live updates

Stock futures were small changed precocious Tuesday arsenic traders prepared for a much-anticipated monetary argumentation determination and an adjacent much important argumentation outlook from the Federal Reserve connected Wednesday.

S&P 500 futures added 0.02%, portion Nasdaq-100 futures precocious 0.02%. Futures contracts tied to the Dow Jones Industrial Average were up 13 points, oregon 0.03%.

Traders astir universally expect the Federal Reserve volition little involvement rates connected Wednesday, a determination that could boost the U.S. system amid signs the labour marketplace is slowing adjacent arsenic ostentation stays stubbornly supra the cardinal bank's 2% target. Policymakers volition besides springiness much penetration into their outlook for rates implicit the adjacent twelvemonth oregon truthful successful the closely-watched "dot plot" grid that accompanies their quarterly Summary of Economic Projections.

Investors volition besides ticker for immoderate argumentation dissents from Fed policymakers aft 2 specified disagreeements astatine the past gathering successful July. Traders person priced successful a 96% accidental that the Fed volition chopped rates by 25 ground points, oregon a 4th percent point, and conscionable 4% likelihood that the marketplace volition get a fractional constituent simplification Wednesday, according to numbers derived from involvement complaint futures trading at the CME Group.

Paul McCulley, erstwhile managing manager astatine PIMCO told CNBC's "The Exchange" connected Tuesday that a much conservative, quarter-point complaint chopped is the astir apt result of the Federal Open Market Committee's meeting. 

"Quite frankly, I don't cognize however I would explicate [a 50 ground constituent cut] successful the existent discourse without saying the labour marketplace truly is worrying maine intensely, and I don't deliberation that's the connection that Chair Powell wants to pass — astatine slightest not now," McCulley said. 

Stocks ended small changed by the extremity of Tuesday's session. 

The S&P 500 deed a caller intraday grounds earlier pulling backmost aboriginal successful the day, portion the Dow Jones Industrial Average shed 125.55 points to adjacent 0.27% little astatine 45,757.90. The tech-heavy Nasdaq Composite failed to people immoderate caller summation Tuesday too, aft closing astatine grounds connected Monday.