GIS - 2 Stock Winners to Watch on Fed Decision Day
Wall Street has had a topsy-turvy week so far, and the volatility seems likely to increase on Wednesday as investors prepare for a final decision from the Federal Reserve on interest rate policy. Most investors expect at least a three-quarter percentage-point increase in the Federal Funds rate, which governs short-term borrowing and is a key benchmark that credit markets follow. Some fear that recent inflationary pressures could prompt the Fed to make an even larger increase. Yet after declines of around 1% Tuesday, stock index futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) , S&P 500 (SNPINDEX: ^GSPC) , and Nasdaq Composite (NASDAQINDEX: ^IXIC) had bounced back slightly shortly before trading began Wednesday.
A couple of companies saw their stocks rise following the release of good news on how their businesses are performing. General Mills (NYSE: GIS) and Coty (NYSE: COTY) have each had to deal with macroeconomic pressures affecting their customers' ability to make purchases, but both companies are finding ways to remain successful. Get the whole story below.
General Mills shares rose about 2.5% in premarket trading early Wednesday. The maker of cereal and other food products reported fiscal first-quarter results for the period ending Aug. 28 that made investors more optimistic about its ability to weather current industry conditions.
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2 Stock Winners to Watch on Fed Decision Day