US Futures are slightly higher as the Fed begins a 2-day policy meeting. At the conclusion of the 2-day meeting, the Fed will announce any monetary policy changes at 2pm on Wednesday. In economic data, the Bureau of Labor Statistics said that producer prices rose more than expected in November, rising by 0.4% m/m and 3.1% y/y. PPI ex-food and energy was also slightly higher than expectations at 0.3% m/m. European shares are higher as inflation rises. Headline inflation rose to 3.1% y/y in the UK ahead of the BOE and ECB monetary policy meetings on Thursday. Asian shares closed mostly lower, however, energy shares traded higher as Brent crude prices rose to the highest level since 2015.