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US futures point to a higher open on Wall Street ahead of Fed meet

Stocks higher as Wall Street awaits Fed meeting

U.S. stock index futures are signaling a higher open on Monday as investors look ahead to the Federal Reserve's September meeting which begins on Tuesday.

Dow Jones industrial average futures rose 56 points, while S&P 500 and Nasdaq 100 futures gained 4.5 points and 8.25 points, respectively.

Most market participants do not expect a rate hike to be announced at this month's meeting although the central bank is projected to announce the unwinding of its massive $4.5 trillion portfolio. Market expectations for a December Fed rate hike are now at 52.9 percent, however, according to the CME Group's Fedwatch tool.

U.S. government debt yields rose. The yield on benchmark 10-year Treasury notes was higher at 2.215 percent at 8:08 a.m. ET, while the yield on the 30-year Treasury bond was also up slightly at 2.779 percent. Bond yields move inversely to prices.

On the data front, the U.S. Department of the Treasury is due to release Treasury International Capital (TIC) data for July 2017 and the NAHB releases its September survey of confidence among American home builders. On the earnings front, Steelcase is expected to report before the bell.

Meanwhile, in Europe, the pan-European Stoxx 600 was up by around 0.3 percent, with almost all sectors and major bourses in positive territory. In particular, Portugal's stocks outperformed after credit agency Standard & Poor's gave the euro zone country an investment grade rating after more than five years.