Stock futures held close to the flatline on Wednesday, Sept. 20, with investors given little impetus to move higher until the Federal Reserve announces policy decisions on interest rates and its balance sheet. Dow Jones Industrial Average futures were flat, S&P 500 futures added 0.03%, and Nasdaq futures increased 0.02%. All benchmark indexes closed at records a day earlier -- the Dow for the sixth day in a row and the S&P 500 for its third. The Federal Open Market Committee, the decision-making arm of the Fed, will wrap up its meeting on Wednesday afternoon after talking policy for two days. A policy announcement is expected at 2 p.m. ET and a press conference from Chair Janet Yellen is expected
The U.S. dollar slipped against major rivals Wednesday before investors hear the Federal Reserve’s statement on interest rates and its massive bond-buying program, while the pound made a notable drive higher after British retail sales figures blew past expectations. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB), which measures the greenback against six of its rivals, shed 0.1% to 91.706, on course for a second session of losses. Meanwhile, the WSJ U.S. Dollar Index (CALCULATED:BUXX) dipped 0.2% to 85.07.
Shares of General Mills Inc. GIS, -1.86% tumbled 4.3% in premarket trade Wednesday, after the food company, which brands include Cheerios, Haagen-Dazs and Better Crocker, missed fiscal first-quarter profit and sales expectations. Net income for the quarter to Aug. 27 totaled $408.6 million, or 69 cents a share, after $419.5 million, or 67 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 71 cents, below the FactSet consensus of 76 cents. Revenue fell 3.5% to $3.77 billion, just shy of the FactSet consensus of $3.79 billion. North American retail sales declined 5% to $2.44 billion, compared with the FactSet consensus of $2.45 billion,