Futures rising as Fed gathers in Washington

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NEW YORK (AP) — U.S. stock futures are rising for the second time in as many days as the Federal Reserve opens its two-day policy meeting in Washington.

Dow Jones industrial futures are up 33 points to 15,154. The broader S&P futures have added 3.4 points to 1,637.10. Nasdaq futures are up 7 points to 2,971.75.

After weeks of volatility, markets appear increasingly confident that the Fed isn't yet ready to wind down the bond-buying program that has pushed billions of dollars into the economy and kept interest rates low.

Also on Tuesday, economists expect more signs of a recovery in housing when the Commerce Department posts data on new construction for May.

And the Labor Department is expected to report that inflation remains tame.

Both reports are due at 8:30 a.m. Eastern.

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