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Futures edge lower as Fed kicks off 2-day meeting

September 17. 2013 8:39AM
Associated Press

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(AP) Stock futures are edging lower in very light trading as the Fed opens a two-day policy meeting.

Most are expecting some drawdown of the monthly $85 billion bond-buying program despite recent sketchy job numbers.

Dow Jones industrial futures are down 8 points to 15,423. S&P futures have lost 1.7 points to 1,689.50. Nasdaq futures are down 2 points to 3,159.

There is also some pressure on retailers early Tuesday.

Following a weak back-to-school shopping period, the research firm ShopperTrak said that it expects holiday sales will be lackluster as well.

Americans, while not losing as many jobs as before, are not seeing their pay keep up with expenses, and they're not spending much.

The Labor Department will also report Tuesday on changes in the consumer price index in August.

Associated Press

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