U.S. stock index futures are lower today as investors remain cautious in front of a two-day Fed meeting and because the Greek debt crisis shows no signs of abating.
The central bank is not likely to raise rates only at that meeting but investors will watch out for any hints from Fed Chair Janet Yellen in a press conference following the meeting on Wednesday concerning the timing of the possible rate increase. The Fed has stated it remains data-dependent and can raise rates only if it sees a noticable difference in the economy. Second-quarter data suggests a recovery following a halt in growth earlier in the year.World markets were down with European shares hitting a near four-month low as financial markets braced for that possibility of Greece defaulting on its debt. Greek Finance Minister Yanis Varoufakis told a German newspaper that he\’s not likely to present new reform proposals in a Eurogroup meeting on Thursday, despite warnings in the rest of Europe that time is drained. There is an even possibility of Greece defaulting on its debt payments, based on economists polled by Reuters, although the probability of it leaving the eurozone continues to be only one-in-three.Goldcorp Inc., the earth\’s largest gold producer by market value, will sell its 26 percent stake in Tahoe Resources Inc. for $998.5 million? inside a secondary share sale.Sun Life Financial Inc., Canada\’s third-largest life insurer, agreed to acquire Bentall Kennedy Group for $560 million (US$454 million) as it seeks to achieve from real estate investments.? Thomson Reuters 2015