US stocks were set for a mostly lower open Wednesday as traders looked ahead to the release of the Federal Reserve’s policy statement. Dow Jones Industrial Average futures gained 41 points or 0.1%, S&P futures slipped 15 points or 0.4%, and Nasdaq futures declined 138.50 points or 1.1%. Following a two-day meeting, the Federal Open Market Committee is scheduled to release its policy statement at 2 pm. While the central bank is not expected to take action on interest rates, traders will keep an eye on changes to the Fed’s economic projections as well as some color around the selloff in US treasury markets. Across the Atlantic, a string of European countries announced a temporary pause in inoculations due to safety concerns over Oxford-AstraZeneca’s COVID-19 vaccine. Oil prices fell, with global benchmark Brent Crude down 1.1% and US West Texas Intermediate down 1%, as the impending halt in vaccinations in Europe dented demand outlook for crude. At 8:30 am, data showed US housing starts fell 10.3% to 1.421 million annual rate in February compared with estimates for a 1.562 million rate, while permits fell 10.8% to 1.682 million versus estimates for 1.75 million, according to Bloomberg data. In other world markets, Japan’s Nikkei closed 0.02% lower, Hong Kong’s Hang Seng closed 0.02% higher, and Shanghai Composite closed 0.03% lower. Meanwhile, UK’s FTSE 100 fell 0.6% and Germany’s DAX index was 0.1% down in Europe’s early afternoon session. On the winning side, shares of Land’s End (LE) were 5.1% higher pre-bell after the company reported fiscal Q4 results that topped Street expectations. Timber Pharmaceuticals (TMBR) shares surged 5% after the company said its development partner has signed an exclusive license and supply deal with Desitin Arzneimittel GmbH in Europe for Pascomer for the treatment of facial angiofibromas associated with tuberous sclerosis complex. On the losing side, Sunlink Health Systems (SSY) slumped 22% as the company unveiled a $2 million expansion plan for Trace Regional Hospital. Oil States (OIS) shares fell 10% after the company said it will raise $135 million in an offering of convertible senior notes. Nick Note: The Fed is NOT going to takes its foot of the accelerator. The economy HAS NOT RECOVERED. It will and a economic recovery means two things. Plenty of corporate profits. And plenty of flush with cash millennial desperadoes with a pocket full of mumbo dumbo buying shares of anything and everything.