Wall Street inched a little higher Wednesday ahead of the Federal Reserve’s latest decision on interest rates, according to the Associated Press. Futures for the S&P 500 rose 0.3% before the bell, while futures for the Nasdaq rose 0.4%, and futures for the Dow Jones Industrial Average ticked up 0.2%.
If the Fed leaves interest rates alone as expected Wednesday, the focus will turn to the U.S. central bank’s forecasts for future rate cuts, inflation, and the broader economy. For now, traders on Wall Street are largely expecting the Fed to deliver two or three cuts to rates by the end of 2025.
In early trading, General Mills shares slid 4% after the cereal and snack maker missed Wall Street sales targets and lowered its full-year outlook. The company said it expects “macroeconomic uncertainty” to continue to impact consumers in the current quarter.
Chipmaker Intel fell 2.6% before the bell, following five straight daily gains that were fueled by the naming of a new CEO last week.
In currency trading, the U.S. dollar rose to 149.66 Japanese yen from 149.28 yen.
