US STOCKS-Futures subdued ahead of Fed statement

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* Futures: Dow up 0.03%, S&P off 0.04%, Nasdaq down 0.01%

By Shreyashi Sanyal
June 19 (Reuters) - U.S. stock index futures were flat on
Wednesday as the mood turned cautious ahead of the Federal
Reserve's policy statement, which investors hope could open the
door to future interest rate cuts.
The Fed is expected to leave rates unchanged at the end of
its two-day policy meeting on Wednesday, but expectations are
high that the central bank could reduce borrowing costs later
this year. Bets of a rate cut have helped markets climb this month,
with the S&P 500 .SPX index gaining 6% so far and moving 1%
shy of its all-time high hit in early May.
The Fed's statement and new economic projections are to be
released at 2 p.m. ET (1800 GMT), giving investors an idea on
how a prolonged U.S.-China trade conflict, President Donald
Trump's calls for a rate cut and softer-than-expected economic
data have impacted monetary policy.
Global financial markets have been fired up by European
Central Bank President Mario Draghi's Tuesday volte-face on
policy easing and as investors bet on a worldwide wave of
central bank stimulus.
At 7:16 a.m. ET, Dow e-minis 1YMc1 were up 7 points, or
0.03%. S&P 500 e-minis ESc1 were down 1.25 points, or 0.04%
and Nasdaq 100 e-minis NQc1 were down 0.75 points, or 0.01%.
Sentiment was also buoyed by hopes of progress on U.S.-China
trade dispute, with Beijing hinting that positive outcomes were
possible in negotiations with Washington, after the world's two
largest economies agreed to revive their troubled talks at a G20
meeting this month.
Trade-sensitive industrial giants Boeing Co BA.N and
Caterpillar Inc CAT.N rose in premarket trading, while
semiconductor companies, which source and supply products to
China, also traded higher.
Among other stocks, Adobe Inc ADBE.O jumped 4.4% after the
Photoshop software provider beat analysts' estimates for
quarterly profit and revenue, driven by growth in its digital
media business that houses its flagship product Creative Cloud.
TripAdvisor Inc TRIP.O gained 2% after SunTrust Robinson
upgraded the company's stock to "buy."