* Fed statement, news conference in focus
* Adobe shares up after results
* Futures: Dow up 16 pts, S&P off 0.6 pt, Nasdaq up 4 pts
NEW YORK, June 19 U.S. stock index futures were
little changed on Wednesday following two days of gains ahead of
a highly anticipated Federal Reserve statement and news
* The Fed will release a policy statement at 2:00 p.m. EDT
(1800 GMT), which will be followed soon after by a news
conference with Chairman Ben Bernanke.
* Two days of gains this week suggest investors expect
reassurances of continued economic support from the U.S. central
bank. The equity market had been roiled recently by suggestions
that the Fed's asset purchases would be scaled back earlier than
* Even as volatility has spiked in the wake of Bernanke's
comments to Congress May 22 which had triggered investors' angst
over a winding-down of quantitative easing, equity markets have
mostly traded sideways. The S&P 500 is now 1 percent below its
record closing high set on May 21.
* September futures for the S&P 500 fell 0.6 point
and were down in terms of fair value, a formula that evaluates
pricing by taking into account interest rates, dividends and
time to expiration on the contract. Dow Jones industrial average
futures rose 16 points, and Nasdaq 100 futures
gained 4 points.
* Shares of Adobe Systems Inc rose 7 percent in
light premarket trading a day after the maker of Photoshop and
Acrobat software reported a higher-than-expected adjusted
quarterly profit and said demand rose for Creative Cloud, the
subscription-based version of its flagship software package.
* S&P 500 companies scheduled to report earnings on
Wednesday include Jabil Circuit Inc, Micron Technology
Inc and Red Hat Inc.
* Japan's SoftBank cleared a major hurdle in its
attempt to buy U.S. wireless provider Sprint Nextel, as
rival bidder Dish Network declined to make a new offer
after SoftBank sweetened its own bid last week. Sprint shares
fell 3.3 percent to $7.08 in premarket trading.