U.S. futures as well as Europe’s markets remain flat this morning ahead the 2:00 pm EDT Federal Open Market Committee (FOMC) policy statement and Chairwoman Janet Yellen’s first news conference will follow at 2:30 pm EDT. 

Traders seem to be concern on Chairwoman Yellen’s communication techniques as see futures volume light. Her technique is likely to be tested during the conference as participants attempt to see how hard they can push for information.

Analysts are looking for a continuation of the tapering program with the Fed reducing the bond buying rate to be reduced by another $10 billion.  Analysts are looking for the Fed to distance itself from the current rate guidance.  Another words we should get more of fuzzy broader guidance from the Fed.

Dow Jones Industrial Average Futures (DIA, quote) up by 13 points to 1,6274, S&P 500 Futures (SPY, quote) are up 1.75 points to 1,872.75 and Nasdaq (QQQ, quote) Futures are higher by 6.50 points to 3,701.50. (as of 7:00 am EDT)

Bottom Line: U.S. market participants are likely to remain on the sidelines until the news conference with the possibility of some volatility during the statement release and Q/A of the news conference as trader attempt analyze Fed Chairwoman’s every word.