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BLBG: U.S. Index Futures Little Changed Amid Focus on Fed Rate Meeting
 
U.S. stock-index futures were little changed, after equities posted their best week since July, as investors speculated on whether the Federal Reserve will raise interest rates at Thursday’s meeting.
Among stocks active on corporate news, Solera Holdings Inc. climbed 9 percent after Vista Equity Partners said it agreed to buy the seller of risk-management software for $6.5 billion.
Futures on the Standard & Poor’s 500 Index expiring in December rose 0.1 percent to 1,952.25 at 7:51 a.m. in New York, paring gains of as much as 0.7 percent. The underlying gauge added 2.1 percent last week amid wide swings with global stocks before the Fed decision. Dow Jones futures added 3 points to 16,340 today. Index futures fell earlier as Chinese stocks slumped after data added to concern that the country’s economic slowdown is weakening.
“The main thing that’s going to be moving U.S. stocks this week will be the Fed meeting; there’s going to be volatility whatever happens,” said Kully Samra, who manages U.K. clients for Charles Schwab Corp. in London. “The economy is in a good place. It’s not gangbusters, but it’s got growth, so now is probably a good time to touch rates.”
Investors remain confident the Fed will raise borrowing costs this year, even as they pare bets on an increase this week. Traders are pricing in a 28 percent chance of action on Thursday, down from 48 percent before China’s currency devaluation last month. Odds of a move at the December gathering are about 58 percent, according to data compiled by Bloomberg.
The Chicago Board Options Exchange Volatility Index jumped a record 135 percent last month. The measure of market turbulence known as the VIX closed lower on Friday after swinging between gains and losses. It’s down 18 percent so far in September.
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