Stock futures up as traders look for Fed to act if economy doesn't improve

NEW YORK, Ny. - Stock futures are moving higher as the Federal Reserve wraps up a two-day meeting.

There is a broad anticipation that economic policymakers will either extend a program of buying long-term bonds to keep rates low, or at least signal a readiness to act should the economy sputter.

Dow Jones industrial average futures are up 23 points to 12,785. Standard & Poor's 500 futures are rising 2.7 points to 1,353.30 and Nasdaq futures have added 8.75 points to 2,621.25.

The potential of a boost from the Fed overshadowed news from Procter & Gamble Co., which cut its fourth-quarter earnings and revenue forecasts Wednesday. Some of the same weakness that the Fed is battling has forced the consumer products company to reign in price increases as people cut back on spending.