Dow Futures Lift as Fears of Slowing Growth Remain

By Oliver Gray – moved higher in Tuesday’s evening deals after major benchmark indices finished mixed, with technology companies retreating after social media company Snap Inc (NYSE:) warned of slowing growth.

By 6:45pm ET (10:45pm GMT) were up 0.4%, lifted 0.6% and gained 0.7%.

In extended deals, Urban Outfitters Inc (NASDAQ:) lifted 6.1% despite Q1 EPS of $0.33 and missing expectations of $0.42, while revenues came in at $1.05 billion versus $1.07 billion expected.

Intuit Inc (NASDAQ:) added 2.6% after Q3 EPS of $7.65, beating analyst estimates of $7.58. Revenue for the quarter came in at $5.63 billion versus $5.51 billion expected.

Nordstrom Inc (NYSE:) popped 9.8% after the company Q1 losses per share of 6 cents versus 5 cents expected, while revenue came in at $3.57 billion versus estimates of $3.29 billion. Nordstrom CEO Erik Nordstrom said the company has experienced a surge in demand from shoppers refreshing their closets for “long-awaited occasions.”

Toll Brothers Inc (NYSE:) moved 5.5% higher after Q2 EPS of $1.85, beating estimates of $1.5. Revenue for the quarter came in at $2.28 billion versus $2.08 billion expected.

See also  Business News | Stock and Share Market News | Finance News

Caleres Inc (NYSE:) lifted 11.6%, Q1 EPS of $1.32 versus $0.83 expected on revenues of $735.1 million versus $686.58 million expected.

Agilent Technologies Inc (NYSE:) lifted 1% after the company Q2 EPS of $1.13, above analyst expectations of $1.12. Revenue came in at $1.61 billion versus $1.62 billion expected.

Looking ahead, market participants will be closely monitoring as well as the latest from the Federal Open Market Committee. Corporate earnings will also be in focus with Dick’s Sporting Goods Inc (NYSE:) set report earnings Wednesday before the bell while Snowflake Inc (NYSE:) and NVIDIA Corporation (NASDAQ:) are slated to post results after the bell.

During Tuesday’s regular session, the added 48.4 points, or 0.2%, to 31,928.62, the moved 0.8% lower to 3,941.48 and the fell 270.8 points or 2.4% to 11,264.45.

Heavyweight technology companies led the declines with Block Inc (NYSE:) down 9%, Inc (NASDAQ:) falling 3.2%, Meta Platforms Inc (NASDAQ:) down 7.6% and Alphabet Inc (NASDAQ:) dipping 5%.

On the bond markets, yields eased considerable amid growing recession fears, falling to 2.754%.

Source link

We will be happy to hear your thoughts

Leave a reply

%d bloggers like this:
Shopping cart