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Stock futures tick higher before data, Fed in focus

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July 30, 2013 AT 1:07 PM
U.S. stock index futures edged higher, following stocks' slight decline on Monday, as investors braced for housing and consumer data in a week packed with economic numbers. Volume was expected to be subdued before the Federal Reserve released its statement on Wednesday at the end of a two-day meeting of policymakers. The Fed's Open Market Committee's statement will be combed for hints of when the central bank may begin to scale back its $85 billion a month in asset purchases aimed at stimulating the economy. The week is also heavy in earnings reports.