Dow futures lift, Fed hikes 0.25%

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Dow futures lift, Fed hikes 0.25%
Credit: © Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures were trading slightly higher during Wednesday's evening deals, after major benchmark averages closed lower during regular hours as market participants reacted to the Federal Reserve's widely expected 25 basis point hike .

By 19:00 ET (23:00 GMT), Dow Jones futures added 0.2%, while S&P 500 futures and Nasdaq 100 futures gained 0.1% each.

In extended deals, KB Home (NYSE: KBH ) added 2.8% after reporting Q1 EPS of $1.45 versus $1.15 expected on revenue of $1.38 billion versus $1.31B expected.

Steelcase (NYSE: SCS ) moved 9.3% higher after the company reported Q4 EPS of $0.19 versus $0.11 expected on revenues of $801.7 million versus $750.73M expected.

MillerKnoll (NASDAQ: MLKN ) fell 4.9%, reporting Q3 EPS of $0.54 versus $0.42 expected, while revenue came in at $984.7M versus $999.06M expected.

Ahead in Thursday's session, traders will be looking towards building permits , jobless claims , and new home sales , while companies including General Mills (NYSE: GIS ) and Darden Restaurants (NYSE: DRI ) are slated to report quarterly results.

During Wednesday's regular trade, the Dow Jones Industrial Average fell 530.5 points or 1.6% to 32,030.1, the S&P 500 dipped 65.9 points or 1.7% to 3,937, and the Nasdaq Composite lost 190.2 points or 1.6% to 11,670.

On the bond markets, United States 10-Year rates were at 3.451%.

 
 

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  • Rajesh kanabar @Rajesh kanabar
    market positive mood me nahi hai....
    Like 0
  • Ganesan Sankaran @Ganesan Sankaran
    fed hikes interest rate as expected lines mly.There is no other short cut method to bring down inflation except increase the interest rate.. Definitely the recession will start asap.
    Like 3
    • Anandh tamil @Anandh tamil
      sir, this fed rate hike positive or negative for option trading?
      Like 0

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