By Oliver Gray
Investing.com - U.S. stock futures dipped during Monday’s evening trade as investors remained cautious after major benchmark averages attempted to rebound during the regular session.
In extended deals, Snap Inc (NYSE: SNAP ) plunged 30.9% after warning that the company will miss its own targets for revenue and adjusted earnings in the current quarter due to a faster than expected deterioration of the macroeconomic environment. Pinterest Inc (NYSE: PINS ) and Meta Platforms Inc (NASDAQ: FB ) also fell 12.6% and 7.5% respectively after the report, while Alphabet Inc (NASDAQ: GOOGL ) and Twitter Inc (NYSE: TWTR ) fell 3.7% apiece.
Nautilus Group Inc (NYSE: NLS ) moved 16.3% lower after the company reported Q4 losses of 58 cents per share, in-line with market expectations, while revenue came in at $119.7 million versus $120.85 million expected.
Investors will be closely monitoring new home sales data and a speech from Fed Chair Powell while Nordstrom Inc (NYSE: JWN ), Best Buy Co Inc (NYSE: BBY ) and Ralph Lauren Corp (NYSE: RL ) are set to report earnings results.
During Monday’s regular trading session, the Dow Jones Industrial Average jumped 618 points, or nearly 2% to 31,880.3, the S&P 500 rose 72.4 points or 1.9% to 3,973.8 and the NASDAQ Composite gained 1.6% to 11,535.3.
Gains were led by heavyweight financial companies with JPMorgan Chase & Co (NYSE: JPM ) gaining 6.2% after raising its guidance for full-year net interest income. Bank of America Corp (NYSE: BAC ) lifted 6%, Citigroup Inc (NYSE: C ) gained 6.1% and Wells Fargo & Company (NYSE: WFC ) lifted 5.2%.
On the bond markets, United States 10-Year yields were at 2.86%.
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