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US stocks to open flat with a negative bias

FXStreet (Mumbai) - US equity futures are pointing to a flat opening, although the global market sentiment indicates that the gains would be capped.

The S&P futures are trading 0.01% lower at 1927 while the NASDAQ futures are trading 0.03% lower at 3955.20. The futures have recovered ahead of the US open, after having dipped earlier today tracking the Asian and the European markets.

Moreover, the concerns of an early interest rate hike in the US coupled with the weak global growth prospects has rattled the markets in the last few sessions. “The December Fed funds futures contract implies the likelihood of two hikes next year”, says a note from Brown Brothers Harriman.

The markets are likely to trade sideways ahead of the US Federal Reserve (Fed) minutes as investors prefer to stay on the sidelines.

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