U.S. stock index futures inched up on Wednesday but investors remained cautious ahead of a Federal Reserve statement that could provide hints on the timing of a rate hike.
* Investors will scour the statement after a U.S. Federal Reserve meeting for any signs of when the Fed is likely to begin raising interest rates and the pace of any subsequent hikes.
* The Fed statement is due at 2:00 p.m. ET, followed by Chair Janet Yellen’s news conference half an hour later, with analysts expecting her to focus on signs the economy is recovering after a bumpy start to the year.
* U.S. stocks closed higher on Tuesday following back-to-back daily declines, with merger activity offsetting market concerns as Greece struggles to avoid a default on its debt.
* Relations between Greece and its creditors have become increasingly acrimonious in recent days, leaving little hope that a meeting of EU finance ministers on Thursday will make any progress.
* Athens needs fresh funds to avoid defaulting on a 1.6 billion euro ($1.8 billion) debt repayment to the International Monetary Fund on June 30, which could drive it toward the euro zone exit.
