US Stock Futures Edge Lower; Fed In Focus

US 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.

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%.

Analysts at Stifel Nicolaus upgraded Terex

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.