Futures Point Higher Wednesday Ahead of Rate Decision; General Mills Rises Following Beat and Raise

First Look

Stock futures are pointed higher Wednesday morning. Cryptos are edging lower. The Federal Reserve's rate decision and updated FOMC projections are due at 2 pm ET. Expectations are primarily for another 75 basis point hike, though a full percentage hike remains on the table. General Mills (GIS) is up 2.11% after beating earnings and revenues. While General Mills issued upside full-year earnings guidance as resilient demand continued to meet rising prices, the company did warn that it expects consumers to become more price sensitive during the next three quarters. The Dow Jones is up 0.38%, the S&P is up 0.36%, the Nasdaq is up 0.16%.

Today's Sentiment

Quote of the Day

If you fell down yesterday, stand up today.
H. G. Wells

Stocks on the Move

International Markets

Stocks in Asia are down. The Hang Seng is down -1.79%, the Australia ASX All Ordinaries is down -1.55%, the Nikkei 225 is down -1.36% the Mumbai Sensex is down -0.44% and the Shanghai SE Composite Index is down -0.17%.In Europe stocks are up. The FTSE 100 is up 0.87%, the CAC 40 is up 0.16%, the Euro Stoxx 50 is up 0.06% and the DAX is up 0.02%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 2.12 at 86.06 per barrel. Brent crude is up 2.13 at 92.75 per barrel. Natural Gas is up 0.32 at 8.03. Precious metals are up this morning. Gold is up 10.4 at 1675.29 per ounce. Platinum is up 11.9 at 936.32 while silver is up 0.41 at 19.59. The dollar is up compared to the major currencies today. The greenback is up against the euro, up against the Yen and up against the Pound. Bitcoin is down -0.38% to $19,157.85 while Ethereum is down -0.55% to $1,349.12.

Put/Call Ratio

Yesterday, 1,026,599 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 686,965 put contracts. The single-session put/call ratio was 0.67.

Today's Economic Calendar

Earnings Expected Today