* Fed policy statement due at 2:00 p.m. (1800 GMT)
* Adobe climbs in premarket after results
* Futures up: Dow 6 pts, S&P 0.75 pts, Nasdaq 6.75 pts
By Chuck Mikolajczak
NEW YORK, June 18 U.S. stock index futures were
little changed on Wednesday, after a three-day winning streak
for the S&P 500 index and ahead of a monetary policy
announcement by the Federal Reserve.
* The Fed is widely expected to announce another $10 billion
cut to its monthly bond purchases as it wraps up a two-day
policy meeting at 2:00 p.m. (1800 GMT), but is likely to make
few, if any, other concrete policy moves. Investors will be
attuned to whether officials may tip their hand on longer-term
plans for interest rates.
* The benchmark S&P index has risen 0.6 percent over the
last three days, as investors largely shrugged off mounting
tensions in Iraq amid a flurry of merger and acquisition
activity and better-than-anticipated manufacturing data.
* S&P 500 e-mini futures were up 0.75 points and fair
value - a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the contract
- indicated a slightly higher open. Dow Jones industrial average
e-mini futures rose 6 points and Nasdaq 100 e-mini
futures added 6.75 points.
* Adobe Systems jumped 9.4 percent to $73.90 in
premarket trading after the maker of Photoshop and Acrobat
software reported better-than-expected quarterly profit and
* FedEx Corp rose 3 percent to $144.50 in premarket
trading after the package delivery company posted fourth-quarter
* Endocyte Inc plunged 19 percent to $6.25 before
the opening bell after the company said a Merck
subsidiary would no longer pursue development of Endocyte's
cancer drug, vintafolide.
* Enteromedics Inc surged 23.7 percent to $1.88 in
premarket after the company said the U.S. Food and Drug
Administration Advisory Committee has recommended its obesity
* European stock markets edged up to within reach of
multi-year highs reached last week, with insurer Aegon
rallying after announcing a share buyback program.
* Japan's Nikkei share average rose to a 1 1/2-week high on
Wednesday, as the yen weakened on strong U.S. consumer price
data, although most Asian share markets were on the defensive.
(Editing by Bernadette Baum)