US stock indices closed with a moderate increase in the background, which was due to the Fed's statement. Today, the US Federal Reserve signaled that moving toward a rate hike in the coming months, now that signs of economic decline, which appeared at the beginning of the year, weakening. However, the trajectory of rate hikes will probably be less steep than managers had expected before. In its forecasts about the prospects for interest rates 15 of 17 Fed officials said they expected to start raising short-term interest rates before the end of 2015. These projections show that managers tend to increase rates by 0.25 percentage points or 0.5 percentage points by December. This will raise the Fed's key rate to nearly zero, where it has been since December 2008.

Among the few macroeconomic news today is to provide data of the Statistical Office of the European Union (Eurostat) to increase the volume of construction in the euro area in April by 0.3% compared with the previous month, when the increase was 0.6%. In annual terms, the volume of construction remained unchanged after falling 1.9% in March. In the 28 EU countries, the volume of construction in the last month decreased by 0.3% compared with the previous month and rose by 1.3% - on an annualized basis.

Almost all components of the index DOW finished trading with an increase (22 of 30). Outsider shares in UnitedHealth Group Incorporated (UNH, -1.67%). Most remaining shares rose The Procter & Gamble Company (PG, + 1.21%).

Almost all sectors of the S & P index closed in positive territory. Most utilities sector grew (+ 0.8%). Outsider is the financial sector (-0.1%).

At the close:

Dow + 0.17% 17,935.14 +30.66

Nasdaq + 0.18% 5,064.88 +9.33

S & P + 0.20% 2,100.40 +4.11

Polish equity market suffered steep losses Wednesday on the Greek threat. All sectors posted negative daily returns. Banking sector (-1.99%) was down to a larger degree, followed by materials (-1.60%) and chemicals (-1.57%).

The large-cap stocks' measure, the WIG30 Index, declined by 1.53%. EUROCASH (WSE: EUR) was the only large-cap name that generated positive return, gaining 0.31%. At the same time, LPP (WSE: LPP) and SYNTHOS (WSE: SNS) were hit the hardest, losing 3.50% and 3.31% respectively. Separate banking stocks, namely BZ WBK (WSE: BZW), ING BSK (WSE: ING), PKO BP (WSE: PKO) and MBANK (WSE: MBK), also recorded dramatic changes, declining by 2.15%-3.28%.

Stock indices closed lower as investors are awaiting the results of the Fed's monetary policy meeting and the results of the European Central Bank's (ECB) Governing Council meeting.

The results of the Fed's monetary policy meeting are scheduled to be released at 18:00 GMT. The Fed will also release its economic forecasts. The Fed Chair Janet Yellen is scheduled to speak after the release of the results.

Investors are awaiting signals when the Fed starts raising its interest rate.

The ECB is expected to review its Emergency Liquidity Assistance (ELA) to Greek banks.

Concerns over the Greek debt problem still weighed on markets. Greek Prime Minister Alexis Tsipras said on Wednesday that he was ready to assume responsibility for the consequences of rejecting a deal with creditors.

The next round of talks is scheduled to at the finance ministers' meeting this Thursday in Luxembourg.

Greek Finance Minister Yanis Varoufakis said that Athens will not provide a new reform proposal.

Meanwhile, the economic data from the Eurozone was in line with expectations. Eurozone's final consumer price index rose 0.2% in May, in line with the previous estimate.

On a yearly basis, Eurozone's final consumer price inflation climbed to 0.3% in May from 0.0% in April, in line with the previous estimate.

Eurozone's consumer price inflation excluding food, energy, alcohol and tobacco climbed to an annual rate of 0.9% in May from 0.6% in April, in line with the previous estimate.

The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate remained unchanged at 5.5% in the February to April quarter, in line with expectations. It was the lowest level since 2008.

The claimant count decreased by 6,500 people in May, missing expectations for a drop by 12,300, after a decrease of 7,800 people in April.

Average weekly earnings, excluding bonuses, climbed by 2.7% in the February to April quarter, exceeding expectations for a rise by 2.5%, after a 2.3% gain in the November to January quarter. It was the highest gain since December to February 2009.

Average weekly earnings, including bonuses, rose by 2.7% in the February to April quarter, exceeding expectations for a gain of 2.1%, after a 2.3% increase in the November to January quarter. It was the highest rise since June to August 2011.

The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.

The Bank of England's Monetary Policy Committee (MPC) released its May meeting minutes on Wednesday. All members voted to keep the central bank's monetary policy unchanged.

All MPC members noted that it was appropriate to keep the monetary policy unchanged.

Two members of the nine MPC said that the decision not to hike interest rate in April was "finely balanced" between voting to hold or hike interest rate repeating comments from the last minutes.

MPC members said that the monetary policy will depend on "the prospects for inflation in the United Kingdom and would not be determined by the actions of other central banks".

Indexes on the close:

Name Price Change Change %

FTSE 100 6,680.55 -29.55 -0.44 %

DAX 10,978.01 -66.00 -0.60 %

CAC 40 4,790.62 -49.24 -1.02 %

Major U.S. stock-indexes are little changed on Wednesday as investors await a Federal Reserve statement that could provide hints on the timing of a rate hike. The Dow and the S&P 500, however, were lower for the month. Investors will scour the statement for any signs of when the Fed is likely to begin raising interest rates and the pace of any subsequent hikes. The Fed statement is due at 18-00 GMT0, followed by Chair Janet Yellen's news conference half an hour later, with analysts expecting her to focus on signs the economy is recovering after a bumpy start to the year. Many investors expect the Fed to signal that U.S. interest rates will be increased in September.

Most of Dow stocks in positive area (23 of 30). Top looser - UnitedHealth Group Incorporated (UNH, -0.44%). Top gainer - Intel Corporation (INTC, +0.70%).

S&P index sectors are mixed. Top gainer - Utilities (+0,6%). Top looser - Financial (-0.1%).

At the moment:

Dow 17843.00 +17.00 +0.10%

S&P 500 2089.50 +0.50 +0.02%

Nasdaq 100 4454.50 +2.75 +0.06%

10-year yield 2.37% +0.05

Oil 59.95 -0.02 -0.03%

Gold 1176.60 -4.30 -0.36%

The Eurostat released its construction production data for the Eurozone on Wednesday. Construction production in the Eurozone increased 0.3% in April, after a 0.6% rise in March. March's figure was revised down from a 0.85 gain.

Civil engineering output declined 1.8% in April, while production in the building sector climbed 0.5%.

On a yearly basis, construction output remained stable in April, after a 1.9% drop in March. March's figure was revised up from 2.7% decline.

The Bank of Greece said in its annual report on Wednesday that failure to reach a deal with creditors could lead to the exit from the Eurozone and to crisis in Greece.

"The conclusion of a new agreement with our partners is of the utmost importance to fend off the immediate risks to the economy, reduce uncertainty and ensure a sustainable growth outlook for Greece. Failure to reach an agreement would, on the contrary, mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country's exit from the euro area and - most likely - from the European Union," the central bank said.

The Bank of Greece urged to the Greek government to reach a deal.

The head of the Eurogroup Jeroen Dijsselbloem said on Wednesday that a deal between Athens and its creditors is still possible.

"Time is running out but a deal is still possible," he noted.

Dijsselbloem also said that Greece should present alternative proposals. He added that the Eurogroup remains opposed to writing off Greek debt.

Dijsselbloem proposed to delay the election of his successor as head of the Eurogroup until July, to focus on Greece. The election is scheduled to be on Thursday.

Markit Economics and financial information provider Ipsos Mori released its household finance index for the U.K. The household finance index declined to 43.8 in June from 45.5 in May.

The decline was driven by concerns over job security.

The index measuring the outlook for financial well-being over the coming twelve months increased to 50.1 in June from 49.3 in May.

The current inflation perceptions index declined to 61.5 in June from 64.7 in May.

The index measuring expected living costs over the twelve months was 78 in June.

24% expects monetary policy to tighten over the next six months. It was the lowest reading since October 2013.

The Ifo institute upgraded its German economic growth for 2015 on Wednesday. Germany's economy is expected to grow 1.9% this year, up from the previous estimate of 1.5%, and 1.8% in 2015.

The upgrade was driven by stronger private consumption.

The Ifo institute expects private consumption to remain the main driver, corporate investments to expand, while construction boom to continue.

Imports are expected to grow stronger than exports.

(company / ticker / price / change, % / volume)

The Italian statistical office Istat released its trade data for Italy. Italy' trade surplus declined to a seasonally adjusted €3.52 billion in April from €3.89 billion in March.

Exports fell 0.8% in April, while imports remained stable.

On a yearly basis, exports climbed 9.0% in April, while imports rose 9.3%.

The trade surplus with the EU was a seasonally adjusted €858 million in April, while the trade surplus with non-EU countries was €2.67 billion.

Statistics Canada released wholesale sales figures on Wednesday. Wholesale sales increased 1.9% in April, exceeding expectations for a 0.3% rise, after a 1.0% gain in March. March's figure was revised up from a 0.8% increase.

The increase was driven by higher sales in the motor vehicle and parts subsector. Sales of automobiles and parts jumped 9.3% in April.

Sales in the machinery, equipment and supplies subsector rose 1.5% in April, sales construction, forestry, mining, and industrial machinery, equipment and supplies subsector increased 4.8%, while sales in the food, beverage and tobacco subsector declined 2.0%.

Sales rose in four of the seven subsectors.

Inventories climbed by 0.5% in April.

The Ministry of Finance released its trade data for japan on Wednesday. Japan's trade deficit widened to ¥216 billion in May from a deficit of ¥55.8 billion in April. April's figure was revised down from a deficit of ¥53.4 billion.

Analysts had expected a deficit of ¥226 billion.

The adjusted trade deficit was ¥182.5 billion in May.

Exports rose 2.4% year-on-year, while imports dropped 8.7%.

Exports to Asia climbed by 3.3% year-on-year, exports to the United States increased by 7.4%, while exports to the European Union were up 0.4%.

Imports from Asia fell 3.0% year-on-year, imports from the United States jumped 11.5%, while imports from the European Union rose 1.1%.

Stock indices traded lower as concerns over the Greek debt problem still weighed. The next round of the debt talks between Greece and its creditors is scheduled to at the finance ministers' meeting this Thursday in Luxembourg. Greek Finance Minister Yanis Varoufakis said that Athens will not provide a new reform proposal.

Meanwhile, the economic data from the Eurozone was in line with expectations. Eurozone's final consumer price index rose 0.2% in May, in line with the previous estimate.

On a yearly basis, Eurozone's final consumer price inflation climbed to 0.3% in May from 0.0% in April, in line with the previous estimate.

Eurozone's consumer price inflation excluding food, energy, alcohol and tobacco climbed to an annual rate of 0.9% in May from 0.6% in April, in line with the previous estimate.

The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate remained unchanged at 5.5% in the February to April quarter, in line with expectations. It was the lowest level since 2008.

The claimant count decreased by 6,500 people in May, missing expectations for a drop by 12,300, after a decrease of 7,800 people in April.

Average weekly earnings, excluding bonuses, climbed by 2.7% in the February to April quarter, exceeding expectations for a rise by 2.5%, after a 2.3% gain in the November to January quarter. It was the highest gain since December to February 2009.

Average weekly earnings, including bonuses, rose by 2.7% in the February to April quarter, exceeding expectations for a gain of 2.1%, after a 2.3% increase in the November to January quarter. It was the highest rise since June to August 2011.

The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.

The Bank of England's Monetary Policy Committee (MPC) released its May meeting minutes on Wednesday. All members voted to keep the central bank's monetary policy unchanged.

All MPC members noted that it was appropriate to keep the monetary policy unchanged.

Two members of the nine MPC said that the decision not to hike interest rate in April was "finely balanced" between voting to hold or hike interest rate repeating comments from the last minutes.

MPC members said that the monetary policy will depend on "the prospects for inflation in the United Kingdom and would not be determined by the actions of other central banks".

Current figures:

Name Price Change Change %

FTSE 100 6,683.77 -26.33 -0.39 %

DAX 11,017.55 -26.46 -0.24 %

CAC 40 4,812.16 -27.70 -0.57 %

A survey by the ZEW Institute and Credit Suisse Group showed on Wednesday that Switzerland's economic sentiment index rose to 0.1 points in June from -0.1 points in May.

The current conditions index dropped to -23.0 points in June from 0.0 points in May, driven by a downgrade of the Swiss gross domestic product (GDP) estimate for Q1 2015. The State Secretariat for Economic Affairs (SECO) forecasts Switzerland's real GDP to decline by 0.2%.

71.8% of the financial analysts noted that the present state of Switzerland's economy is "normal".

Eurostat released its final consumer price inflation data for the Eurozone on Wednesday. Eurozone's final consumer price index rose 0.2% in May, in line with the previous estimate.

On a yearly basis, Eurozone's final consumer price inflation climbed to 0.3% in May from 0.0% in April, in line with the previous estimate.

Eurozone's consumer price inflation excluding food, energy, alcohol and tobacco climbed to an annual rate of 0.9% in May from 0.6% in April, in line with the previous estimate.

The Bank of England's Monetary Policy Committee (MPC) released its May meeting minutes on Wednesday. All members voted to keep the central bank's monetary policy unchanged.

All MPC members noted that it was appropriate to keep the monetary policy unchanged.

Two members of the nine MPC said that the decision not to hike interest rate in April was "finely balanced" between voting to hold or hike interest rate repeating comments from the last minutes.

MPC members said that the monetary policy will depend on "the prospects for inflation in the United Kingdom and would not be determined by the actions of other central banks".

The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate remained unchanged at 5.5% in the February to April quarter, in line with expectations. It was the lowest level since 2008.

The claimant count decreased by 6,500 people in May, missing expectations for a drop by 12,300, after a decrease of 7,800 people in April. April's figure was revised down from a decline of 12,600.

Average weekly earnings, excluding bonuses, climbed by 2.7% in the February to April quarter, exceeding expectations for a rise by 2.5%, after a 2.3% gain in the November to January quarter. It was the highest gain since December to February 2009.

The previous three months' figure was revised up from a 2.2% increase.

Average weekly earnings, including bonuses, rose by 2.7% in the February to April quarter, exceeding expectations for a gain of 2.1%, after a 2.3% increase in the November to January quarter. It was the highest rise since June to August 2011.

The previous three months' figure was revised up from a 1.9% rise.

The Bank of England monitors closely the wages growth it considers when to start hiking its interest rate.

The Luxembourg-based European Court of Justice (ECJ) said on Tuesday that the European Central Bank (ECB) has the right to purchase government securities from EU members undergoing a financial crisis. The ECJ noted that government securities purchases were fully in line with the European system of central banks' existing competences.

Former European Central Bank President (ECB) Jean-Claude Trichet said on Tuesday that Greece should stay in the Eurozone because the exit from the Eurozone would hurt the Greek public most.

"I think the will of the Greek government, the overwhelming will of the Greek people -- according to the information I have -- and of course the option of the European friends is that staying in the euro area is by far the best solution," Trichet said.

Trichet was the ECB president in 2010 when Eurozone's finance ministers provided Athens with initial financial aid.

European Central Bank (ECB) Executive Board Member Yves Mersch said that membership of the Eurozone is irreversible and the exit from the Eurozone is not foreseen in the European Union's treaty.

"We consider participation in the euro area to be irreversible and it is on this assumption that the regulations and the treaty have been written," he said.

Mersch noted that that the European approach to a problem was a cooperative one.

U.S. stock indices ended up with gains on Tuesday as investors paid more attention to domestic economic data than to concerns over Greece. Thus the S&P 500 rose by 0.57% or 11.86 points to 2,096.29, while the Dow Jones Industrial Average advanced by 0.64% or 113.31 points to 17,8904.48. At the same time, the Nasdaq Composite rose by +0.51% or 25.58 points to 5,055.55.

The annual pace of building permits, which reflect future demand, rose 11.8% to 1.28 million, the fastest pace since August 2007.

Asian indexes are trading mixed today. China's Shanghai Composite Index lost 0.16% or 7.63 points to 4,879.80. Hong Kong Hang Seng rose by 0.72% or 192.11 points to 26,758.81. Meanwhile the Nikkei fell by 0.18% or 35.80 points to 20,222.14 amid trade data.

Japanese exports rose 2.4% y/y in May, vs a 3.5% gain expected by economists and the +8.0% growth in April. Imports fell 8.7% exceeding expectations of a 7.5% drop. Lower purchases of crude oil, liquefied natural gas and iron ore contributed to this decline.

(index / closing price / change items /% change)

Nikkei 225 20,257.94 -129.85 -0.64 %

Hang Seng 26,566.7 -295.11 -1.10 %

S&P/ASX 200 5,535.79 -2.98 -0.05 %

Shanghai Composite 4,888.65 -174.35 -3.44 %

FTSE 100 6,710.1 -0.42 -0.01 %

CAC 40 4,839.86 +24.50 +0.51 %

Xetra DAX 11,044.01 +59.04 +0.54 %

S&P 500 2,096.29 +11.86 +0.57 %

NASDAQ Composite 5,055.55 +25.58 +0.51 %

Dow Jones 17,904.48 +113.31 +0.64 %