Futures dip ahead of Fed policy decision, more earnings on tap

Nov 1 - U.S. stock index futures fell on Wednesday as investors awaited the Federal Reserve's monetary policy decision and kept tabs on corporate updates with the earnings season in full swing.

"Although the economy has continued to show strength in terms of growth, rising long-term interest rates are doing some tightening work for the Fed," said Daniel Bergvall, head of economic forecasting at SEB Research. The Fed's stance on interest rates will likely set the tone for U.S. equities following a sharp fall in October due to a surge in Treasury yields, the Middle East conflict and mixed earnings reports.

The Institute for Supply Management's survey on manufacturing activity last month will also provide more clues on the strength of the economy.

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