Dow futures lift after Fed rate hike, Meta surges 7% after earnings

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Dow futures lift after Fed rate hike, Meta surges 7% after earnings
Credit: © Reuters.

Investing.com - U.S. stock futures were trading in a mixed fashion on Wednesday evening, following mixed trade among major averages after the Federal Reserve decided to hike rates by a further 25 basis points, in line with market expectations, while investors monitored ongoing earnings results from major companies.

By 18:55 ET (22:55 GMT), Dow Jones futures dipped 0.2%, S&P 500 futures were flat, and Nasdaq 100 futures added 0.2%.

Get the latest earnings results with InvestingPro.

In extended deals, Meta Platforms Inc (NASDAQ: META ) lifted 7% reporting Q2 EPS of $2.98 versus $2.91 expected, on revenues of $32 billion versus $31.08B expected. The company also forecasted Q3 2023 revenues in the range of $32B-$34.5B expected versus $31.2B expected.

EBay (NASDAQ: EBAY ) dipped 4.8% after the company reported Q2 EPS of $1.03 versus $0.99 expected, while revenues came in at $2.5B versus $2.51B expected. The company forecasted Q3 2023 EPS in the range of $0.96-$$1.01 versus $0.92 expected and revenues in the range of $2.46B-$2.52B versus $2.23B expected.

Chipotle Mexican Grill (NYSE: CMG ) fell 8.5% after reporting Q2 EPS of $12.65 versus $12.29 expected, with revenues reported at $2.5B versus $2.53B expected.

Align Technology (NASDAQ: ALGN ) surged 12.4% after reporting Q2 EPS of $2.22 versus $2.04 expected, while revenues came in at $1B versus $992.76B expected.

Ahead in Thursday's trade, market participants will be closely watching fresh core durable goods orders , GDP data , pending home sales , and jobless claims .

Earnings are set to continue, featuring major companies Mastercard Inc (NYSE: MA ), McDonald’s Corporation (NYSE: MCD ), Intel Corporation (NASDAQ: INTC ), and Nestlé (OTC: NSRGF ).

During Wednesday's session, the Dow Jones Industrial Average added 82.1 points or 0.2% to 35,520.1, the S&P 500 finished flat at 4,566.7, and the Nasdaq Composite eased 17.3 points or 0.1% to 14,127.3.

On the bond markets, United States 10-Year rates were at 3.877%.

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