June 20 - Investors await the Federal Reserve's announcement on what it might do to support the fragile U.S. recovery.
Wall Street pins its hopes on work at stimulants and there's X for two Dow component. To -- comments Wednesday. This is the wait is over that finally announces what it might do to support the fragile US recovery. Expect a statement at 1230 which includes forecast GDP unemployment. Inflation and interest rate projections. That chair Ben Bernanke and faces -- news conference at fifty. Two likely outcomes you that the Fed extends its Operation Twist or another option and had pushed back estimates of when it will raise rates. Full blowing QE3 may be overkill bright house. And it had an -- and investors are still hedging bets and tweaking physicians. Our Reuters US markets editor David Athens says stocks are likely. To deflate -- if they see more stimulus only because the previous session's rally if the Fed says nothing now expect hissy fit. At last her a couple of this. In bonds Lloyds bank strategist says look for an initial disappointed -- -- twisted extended. That's likely to be seen at the very long -- of the car. In corporate news unfavorable exchange rates are forcing Procter & -- cut its outlook. The world's largest household products maker's net earnings for now expected to range between 7579. Cents a share their fiscal fourth quarter. That's down from a previous target of 79 EDI's. PG shares down before now. And another company being hit by -- -- is -- -- and pat -- says it's 2012 core earnings will fall. I've not read percentage points in late April and patsy or hurting it only by about two percentage points. Pepsi down slightly in the premarket. Apple is trying to salvage a high profile lawsuit against Google's Motorola mobility unit. The company will argue why should be able to seek an order. Barring the sale of some Motorola phones. That judge's decision could affect the iPod maker's ability to negotiate favorable licensing agreements it's legal fight against Motorola and other competitors. Apple is up before the bell Google is out. Went back to keep an eye out today is Adobe maker Photoshop acrobat had its full year revenue outlook on weak demand in Europe. It's trading down in the -- Mark coverage be sure to follow us on Twitter writers and cider house and check out our YouTube channel at Reuters dot com slash breakers. -- this is going.