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Futures higher ahead of Fed rate decision

07:24

Stock futures are higher after a judge last night denied the Justice Department's bid to block AT&T's (T) merger with Time Warner (TWX), which may open the doors for additional mega-mergers. Investors will be watching the producer prices report, the weekly Department of Energy inventory numbers and the FOMC rate decision, which is due out at 2:00 pm ET. The central bank is widely expected to hike rates by a quarter point, leaving the bigger question being about the pace of future increases. In early pre-market trading, Dow futures are 20 points above fair value, Nasdaq futures…

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