Dow futures tick lower, Snap tanks 14.5% after earnings
By Oliver Gray
Investing.com - U.S. stock futures fell during Tuesday’s extended trade after major benchmark indices closed higher as market participants monitored a batch of fresh earnings results ahead of the closely watched Federal Reserve interest rate decision on Wednesday.
By 18:45 ET (23:45 GMT) Dow Jones futures fell 0.2%, S&P 500 futures dipped 0.3%, and Nasdaq 100 futures lost 0.5%.
In extended deals, Snap (NYSE: SNAP ) fell 14.5% after reporting Q4 EPS of $0.14 versus $0.11 expected on revenue of $1.3 billion which was in line with expectations.
Match Group (NASDAQ: MTCH ) fell 9.6%, reporting Q4 EPS of $0.30 versus $0.46 expected. Revenue was reported at $786 million versus $786.89M expected.
Electronic Arts (NASDAQ: EA ) dipped 10.4% after the company reported Q3 EPS of $0.73 versus $0.50 expected on revenues of $2.34B versus 2.48B expected.
Western Digital (NASDAQ: WDC ) fell 6.8% after reporting Q2 loss per share of $0.42 versus expected losses of $0.14, while revenues came in at $3.11B versus $2.99B expected.
Advanced Micro Devices, Inc. (NASDAQ: AMD ) added 1.5% after the company reported Q4 EPS of $0.69, slightly above $0.67 expected, on revenues of $5.6B versus $5.52B expected.
Ahead in Wednesday’s session, U.S. Federal Reserve policymakers are set to deliver their interest rate decision , as growing evidence of cooling price pressures boosts market expectations of a 25 basis point hike. In addition, ADP nonfarm employment , the ISM manufacturing PMI , and JOLTs Job Openings data will also be closely monitored.
Meanwhile, earnings results from companies including Meta Platforms Inc (NASDAQ: META ), Alibaba Group Holdings Ltd (NYSE: BABA ), and T-Mobile US Inc (NASDAQ: TMUS ) are set to be released on Wednesday.
During Tuesday’s regular trade, the Dow Jones Industrial Average added 369 points or 1.1% to 34,086.04, the S&P 500 gained 58.8 points or 1.5% to 4,076.6, and the Nasdaq Composite lifted 190.7 points or 1.7% to 11,584.6.
On the bond markets, United States 10-Year rates were at 3.512%.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
The Fed news will keep investors cautious until the decision.Like 0
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or