Dow Futures Tick Lower, Smartsheet Reports

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Dow Futures Tick Lower, Smartsheet Reports
Credit: © Reuters.

By Oliver Gray - U.S. stock futures traded lower during Tuesday’s evening deals, after major benchmark averages finished higher as investors proved optimistic ahead of Friday’s key inflation print.

By 6:55pm ET (10:55pm GMT) Dow Jones Futures , S&P 500 Futures and Nasdaq 100 Futures were each trading 0.2% lower.

In extended trades, Smartsheet Inc (NYSE: SMAR ) moved 5% lower after reporting Q1 losses of $0.18 per share versus expected losses of $0.19. Revenue came in at $168.3 million $162.56 million estimated.

Investors will be closely monitoring further retail earnings from companies including Campbell Soup Company (NYSE: CPB ), Ollies Bargain Outlet Holdings Inc (NASDAQ: OLLI ) and Five Below Inc (NASDAQ: FIVE ). Traders are also looking ahead to Friday’s consumer price index reading for May.

During Tuesday’s regular trade, The Dow Jones Industrial Average gained 264.36 points, or 0.8%, to close at 33,180.14. The S&P 500 rose 0.95% to 4,160.68, and the NASDAQ Composite added 0.94% to 12,175.23.

Energy shares were among the top performers amid stronger crude prices, with Occidental Petroleum Corporation (NYSE: OXY ) adding 1.4%, ConocoPhillips (NYSE: COP ) up 4.5% and Chevron Corp (NYSE: CVX ) gaining 1.9%, while Exxon Mobil Corp (NYSE: XOM ) was up by over 4% following an upgrade from Evercore ISI.

The technology sector was also higher, with Microsoft Corporation (NASDAQ: MSFT ) up 1.4%, Block Inc (NYSE: SQ ) adding 1.5%, and Apple Inc (NASDAQ: AAPL ) gaining 2.8% while Inc (NASDAQ: AMZN ) fell 1.4%.

Target Corporation (NYSE: TGT ) tumbled 2.3% as the company issued another warning about weak guidance, sparking concerns of further slowdown in consumer sentiment.

On the bond markets, United States 10-Year yields were at 2.979%.

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