(By Salman - iStockAnalyst Writer)US stock futures were little changed on Wednesday as investors awaited the Federal Reserve's policy statement due later in the day.
At 8:11 am ET, the S&P 500 futures rose 4.75 points to 1069.60. The Dow Jones Industrial Average futures climbed 14 points to 9785. The Nasdaq Composite futures advanced 4.75 points to 1739.
The US Federal Reserve will conclude a two-day policy meeting on Tuesday. Though the central bank is likely to hold rates steady, investors are keenly awaiting the accompanying Fed statement.
Early on Wednesday, auto-parts retailer AutoZone Inc. (NYSE:
AZO) said Wednesday that its fiscal fourth-quarter profit fell 3.1% to $236.1 million, or $4.43 a share, from $243.7 million, or $3.88 a share, in the year-ago period. Quarterly revenue increased 1% to $2.23 billion while same-store sales rose 5.4%.
General Mills (NYSE:
GIS) reported Wednesday, that its fiscal first-quarter profit jumped 51% $420.6 million, or $1.25 a share, compared to net income of $278.5 million, or 79 cents a share, in the prior-year period. Excluding items, earnings in the latest period were $1.28 a share. Revenue rose 0.6% to $3.52 billion.
H.B. Fuller Co. (NYSE: FUL) announced that its fiscal third-quarter profit rose to $35.4 million, or 72 cents a share, from $21.7 million, or 44 cents a share, in the year-ago period. Revenue dropped to $315.3 million from $362 million.
Late on Tuesday, Seagate Technology Inc. (NASDAQ:
STX) said that it expects fiscal first-quarter revenue to be at or slightly above the top end of its projection amid improving demand for hard-disk drives. In July, the world's largest hard-drive maker by sales raised its revenue forecast to a range of $2.4 billion to $2.6 billion.
The Mortgage Bankers Association reported on Wednesday that applications for mortgages increased 12.8% last week from the before due to strong refinancing activity.
US stocks finished higher on Tuesday as dollar's sharp slide against euro spurred a rally in sectors such as materials and industrials.
European stocks advanced in afternoon trade. At 12:52 pm London time, the UK FTSE gained 28.82 points or 0.56% to 5,171.42. The German DAX and French CAC increased 0.36% and 0.42% respectively.
Asian stocks finished down. The Hang Seng index of Hong Kong fell 92.88 points or 0.43% to 21,608.26.
NYMEX crude oil for October delivery declined as much as 74 cents or 1% to $71.02 a barrel in electronic trading.
Disclosure: Author doesn't own any of the stocks discussed here.
