HG MARKETS:

U.S. stock index futures showed limited movement on Wednesday as investors remained cautious ahead of the Federal Reserve’s policy decision. Dow Jones futures rose by 30 points (0.1%), while S&P 500 and Nasdaq 100 futures both gained marginally. This came after a market-wide decline in the previous session, accompanied by the U.S. dollar hitting a 52-week low — underscoring the market’s sensitivity to forthcoming monetary guidance.

The Federal Open Market Committee is widely expected to implement a 25-basis-point rate cut, which would adjust the federal funds target range to 4.00%–4.25%. Recent labor market data — including slowing job creation and higher unemployment — has increased expectations for a more accommodative stance. Futures markets currently reflect limited odds of a larger 50-basis-point cut, but suggest total rate reductions of 65–70 basis points by year-end.

Market participants are closely monitoring the Fed’s updated economic projections and dot plot for forward guidance through 2026. Investors will also parse Chair Jerome Powell’s post-meeting remarks for indications of whether the central bank favors a cautious easing trajectory or is prepared to act more assertively if labor conditions continue to weaken.

General Mills (NYSE: GIS) is set to report earnings before the U.S. market opens, with analysts focused on quarterly sales trends and future demand projections. The packaged food sector faces headwinds amid signs that consumers are curbing spending, influenced in part by economic uncertainty linked to sweeping tariffs. Consumer sentiment data has recently declined, reflecting these pressures.

In international corporate developments, Apple (NASDAQ: AAPL) saw a 6% decline in Chinese smartphone sales ahead of the iPhone 17 launch, per Counterpoint Research. Meanwhile, Baidu (NASDAQ: BIDU) shares advanced on investor confidence in its AI chip initiatives amid China’s tech self-sufficiency push. Cytokinetics (NASDAQ: CYTK) announced a $550 million convertible note offering due in 2031, signaling continued capital market activity in biotech.