General Mills edges lower premarket; US Steel climbs

Investing.com -- US stock index futures pointed slightly higher on Wednesday as investors hunkered down before a landmark Federal Reserve decision that is likely to result in the first interest rate cut since March 2020.

S&P 500 futures had risen by 8 points or 0.1%, while Nasdaq 100 futures had gained 33 points or 0.2% and Dow Jones futures had added 65 points or 0.2% by 06:22 ET (10:22 GMT).

Here are some of the biggest premarket US stock movers today:

Cheerios-maker General Mills (NYSE:GIS ) reported a smaller-than-anticipated dip in quarterly sales and predicted gradual improvement in volumes in its fiscal 2025, although it flagged broader economic uncertainty. Shares inched lower.

Shares in United States Steel (NYSE:X )climbed after Bloomberg News reported that Nippon Steel had won an extension in the review of its $14.1 billion approach for the American steelmaker. A decision is now likely to be made only after the 2024 elections in November.

All seven of the independent directors on the board of 23andMe (NASDAQ:ME ) resigned on Tuesday, sending shares down sharply prior to the opening bell. The directors said they had not received a satisfactory take-private offer from the company's Chief Executive Anne Wojcicki.

Applied Therapeutics (NASDAQ:APLT ) shares surged after the biopharmaceutical group announced that it had completed a late-cycle review meeting with US drug regulators regarding govorestat, a treatment for people whose bodies are unable to metabolize the simple sugar galactose.

Intuitive Machines (NASDAQ:LUNR ) shares spiked on news that the space exploration firm said it secured a contract with NASA that has a maximum potential value of $4.82 billion.

GE HealthCare (NASDAQ:GEHC ) shares were slightly higher after analysts at BTIG upgraded their rating of the stock to "Buy" from "Neutral," citing an improved set-up for the medical technology firm.

Super Micro Computer (NASDAQ:SMCI ) shares inched up after analysts at Needham & Co initiated their coverage of the chip company with a "Buy" recommendation.

North Face-owner VF Corporation (NYSE:VFC ) saw its shares increase after analysts at Barclays lifted their rating to "Overweight" from "Equal-weight."

Victoria's Secret (NYSE:VSCO ) shares climbed after the lingerie retailer's outlook was upgraded to "Equal-weight" from "Underweight" by analysts at Barclays.

Source: Investing.com