US Stock Futures Edge Lower; Fed In Focus

Pre-open moversUS stock futures traded lower in early pre-market trade. The Federal Open Market Committee will begin its two-day meeting today. The producer price index for August will be released at 8:30 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 18 points to 16,925.00, while the Standard & Poor's 500 index futures fell 1.70 points to 1,974.40. Futures for the Nasdaq 100 index dropped 5.75 points to 4,019.75.A Peek Into Global Markets European markets were lower today, with the Spanish Ibex Index falling 0.37%, STOXX Europe 600 Index dropping 0.47%. German DAX 30 index fell 0.31%, French CAC 40 Index fell 0.46% and London's FTSE 100 Index dropped 0.40%. The annual rate of inflation in the UK declined to 1.5% in August, versus 1.6% in July.In Asian markets, Japan's Nikkei Stock Average tumbled 0.23%, Hong Kong's Hang Seng Index dipped 0.91%, China's Shanghai Composite Index slipped 1.82% and India's BSE Sensex tumbled 1.21%.Broker RecommendationAnalysts at Stifel Nicolaus upgraded Terex (NYSE: TEX) from Hold to Buy. The target price for Terex is set to $40. Terex's shares fell 6.43% to close at $32.47 yesterday. Breaking news

• Humana (NYSE: HUM) announced today that its Board of Directors has approved a $2 billion share repurchase authorization with an expiration date of December 31, 2016, replacing its previous $1 billion share repurchase authorization (of which approximately $782 million was outstanding after $118 million of share repurchases to date in the third quarter of 2014). To read the full news, click here.
• Huntington Bancshares (NASDAQ: HBAN), through its subsidiary Huntington National Bank, has completed its acquisition of 24 Bank of America branches in Michigan, Huntington announced today. To read the full news, click here.
• Graham (NYSE: GHM) announced today that it received two new orders from two U.S. nuclear utilities. To read the full news, click here.
• A multi-year contract renewal between DISH Network (NASDAQ: DISH) and Scripps Networks Interactive^® (NYSE: SNI) improves DISH customers' access to Scripps Networks' entire content portfolio, including new and expanded digital rights. To read the full news, click here.