By Oliver Gray
Investing.com - Dow futures moved higher in Tuesday’s evening deals after major benchmark indices finished mixed, with technology companies retreating after social media company Snap Inc (NYSE: SNAP ) warned of slowing growth.
In extended deals, Urban Outfitters Inc (NASDAQ: URBN ) lifted 6.1% despite reporting Q1 EPS of $0.33 and missing expectations of $0.42, while revenues came in at $1.05 billion versus $1.07 billion expected.
Nordstrom Inc (NYSE: JWN ) popped 9.8% after the company reported 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.”
Looking ahead, market participants will be closely monitoring durable goods orders as well as the latest meeting minutes from the Federal Open Market Committee. Corporate earnings will also be in focus with Dick’s Sporting Goods Inc (NYSE: DKS ) set report earnings Wednesday before the bell while Snowflake Inc (NYSE: SNOW ) and NVIDIA Corporation (NASDAQ: NVDA ) are slated to post results after the bell.
During Tuesday’s regular session, the Dow Jones Industrial Average added 48.4 points, or 0.2%, to 31,928.62, the S&P 500 moved 0.8% lower to 3,941.48 and the NASDAQ Composite fell 270.8 points or 2.4% to 11,264.45.
Heavyweight technology companies led the declines with Block Inc (NYSE: SQ ) down 9%, Amazon.com Inc (NASDAQ: AMZN ) falling 3.2%, Meta Platforms Inc (NASDAQ: FB ) down 7.6% and Alphabet Inc (NASDAQ: GOOGL ) dipping 5%.
On the bond markets, United States 10-Year yields eased considerable amid growing recession fears, falling to 2.754%.
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.