Wall Street Relatively Flat in Premarket Trading
- By Omar Venerio
The Federal Open Market Committee (FOMC) will wrap up its monetary policy meeting today. It will announce its decisions at 2 p.m. Eastern and Federal Reserve Board Chair Janet Yellen will speak afterwards.
U.S. stock market indexes opened in the green. Futures for the Dow Jones Industrial Average advanced 40 points to 22,370. The Standard & Poor's 500 index futures gained 2 points to 2,506 and futures for the Nasdaq 100 index advanced 7 points to 6,461. The dollar index is down 0.14% at 91.70, while the U.S. 10-year bond yields 2.232% and the German 10-year bond yields 0.443%.
Warning! GuruFocus has detected 4 Warning Sign with MLHR. Click here to check it out.
The intrinsic value of MLHR
Herman Miller Inc. (MLHR) shares will experience high volume today as Wall Street expects the company to post earnings per share of 57 cents on revenue of $578.27 million after the closing bell. Its shares closed up 0.29% at $34.95 Tuesday.
General Mills Inc.'s (GIS) stock opened more than 5% lower on the back of the company posting its financial results for the first quarter of fiscal 2018. For the quarter, the company reported annual net sales declined 3.6% year over year to $3.77 billion and EPS came in at 71 cents. The company missed analysts' EPS expectations by five cents and revenue estimates by $20 million.
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Global markets
The main European stock markets traded lower. The FTSE 100, Germany's DAX and the IBEX 35 were down 0.05%, 0.01% and 1.03%. France's CAC 40 Index rose 0.06%.
In Asia, Japan's Nikkei Stock Average rose 0.05%, Hong Kong's Hang Seng Index gained 0.27%, China's Shanghai Composite Index climbed 0.27% and India's BSE Sensex was down 0.01%.
Disclosure: The author holds no positions in any stocks mentioned.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 4 Warning Sign with MLHR. Click here to check it out.
The intrinsic value of MLHR
