* Futures down: Dow 28 pts, S&P 4.25 pts, Nasdaq 7.5 pts
By Yashaswini Swamynathan
March 14 U.S. stock index futures were
marginally lower on Tuesday ahead of the Federal Reserve's
closely watched two-day meeting, where it is widely expected to
raise interest rates.
* Britain's parliament paved the way for Prime Minister
Theresa May to launch divorce talks with the European Union,
potentially adding a layer of uncertainty in the market.
* An almost certain U.S. rate hike lifted the dollar by a
third of a percent to 101.67.
* Wall Street's major indexes have been trading in a tight
range since the start of the month as investors prepared for
higher rates following a slew of hawkish comments from top Fed
* Stocks ended flat on Monday, with the S&P 500 trading in
its tightest range this year as the focus was firmly fixed on
the Fed meeting.
* The next big question for the market is whether the Fed
could get on a more aggressive path to tightening monetary
policy than previously expected as economic data shows signs of
improvement, with a potential boost from President Donald
Trump's proposed fiscal policies.
* The Fed will release a statement at 2:00 p.m. ET (1800
GMT) on Wednesday followed by a press conference by Fed Chair
* Shares of Valeant plunged 13 percent to $10.56 in
heavy premarket trading after billionaire investor William
Ackman said his hedge fund, Pershing Square Capital Management,
sold its entire stake in the company.
* DSW was up 3.4 percent at $20.50 after the
footwear and accessories maker reported quarterly profit that
beat analysts' average estimate.
Futures snapshot at 7:23 a.m. ET:
* Dow e-minis were down 28 points, or 0.13 percent,
with 8,775 contracts changing hands.
* S&P 500 e-minis were down 4.25 points, or 0.18
percent, with 94,620 contracts traded.
* Nasdaq 100 e-minis were down 7.5 points, or 0.14
percent, on volume of 4,353 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by