By Oliver Gray
Investing.com - U.S. stock futures traded lower during Thursday’s evening deals, with investors in retreat after major benchmark averages finished the first half of the year with significant losses amid stronger inflationary pressures, tightening monetary policies and the ongoing war in Ukraine.
In extended deals, Micron Technology Inc (NASDAQ: MU ) shares fell 2.6% following disappointing fiscal fourth-quarter guidance. The company reported earnings per share of $2.59 versus $2.46 expected on revenue of $8.64 billion versus $8.68 billion expected.
During Thursday’s trade, the Dow Jones Industrial Average lost 0.8% to 253.9, the S&P 500 fell 0.9% to 33.5 and the NASDAQ Composite lost 1.3% to 149.2. For the first half of 2022, the Dow Jones Industrial Average fell 15.2%, the S&P 500 lost 20.6% and the NASDAQ Composite dropped 29.5%.
Among stocks, Walgreens Boots Alliance Inc (NASDAQ: WBA ) shed 7.3% after the company reported earnings, reiterating its full-year forecasts. EPS came in at $0.96 versus $0.91 expected on revenues of $32.6 billion versus $32.1 billion expected.
Major tech players retreated, with Amazon.com Inc (NASDAQ: AMZN ) down 2.5%, Microsoft Corporation (NASDAQ: MSFT ) falling 1.3%, Meta Platforms Inc (NASDAQ: META ) down 1.6% and Tesla Inc (NASDAQ: TSLA ) falling 1.8%.
Among data, the U.S. Commerce Department released its core personal consumption expenditures price index , the Fed’s preferred inflation measure. The reading came in at 4.7% for May, below expectations of 4.8% but holding around levels last seen in the 1980s.
The Chicago PMI , which tracks business activity in the region, came in at 56 in June, slightly below expectations of 58.3.
Personal spending in the U.S came in at 0.2% for May, posting the weakest gain so far this year and coming in below market forecasts of 0.4%.
On the bond markets, United States 10-Year rates were at 3.015%.
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