Dow futures tick lower, Snap tanks 14.5% after earnings
By Oliver Gray
Investing.com - U.S. stock futures fell during Tuesday’s extended trade after major benchmark indices closed higher as market participants monitored a batch of fresh earnings results ahead of the closely watched Federal Reserve interest rate decision on Wednesday.
By 18:45 ET (23:45 GMT) Dow Jones futures fell 0.2%, S&P 500 futures dipped 0.3%, and Nasdaq 100 futures lost 0.5%.
In extended deals, Snap (NYSE: SNAP ) fell 14.5% after reporting Q4 EPS of $0.14 versus $0.11 expected on revenue of $1.3 billion which was in line with expectations.
Match Group (NASDAQ: MTCH ) fell 9.6%, reporting Q4 EPS of $0.30 versus $0.46 expected. Revenue was reported at $786 million versus $786.89M expected.
Electronic Arts (NASDAQ: EA ) dipped 10.4% after the company reported Q3 EPS of $0.73 versus $0.50 expected on revenues of $2.34B versus 2.48B expected.
Western Digital (NASDAQ: WDC ) fell 6.8% after reporting Q2 loss per share of $0.42 versus expected losses of $0.14, while revenues came in at $3.11B versus $2.99B expected.
Advanced Micro Devices, Inc. (NASDAQ: AMD ) added 1.5% after the company reported Q4 EPS of $0.69, slightly above $0.67 expected, on revenues of $5.6B versus $5.52B expected.
Ahead in Wednesday’s session, U.S. Federal Reserve policymakers are set to deliver their interest rate decision , as growing evidence of cooling price pressures boosts market expectations of a 25 basis point hike. In addition, ADP nonfarm employment , the ISM manufacturing PMI , and JOLTs Job Openings data will also be closely monitored.
Meanwhile, earnings results from companies including Meta Platforms Inc (NASDAQ: META ), Alibaba Group Holdings Ltd (NYSE: BABA ), and T-Mobile US Inc (NASDAQ: TMUS ) are set to be released on Wednesday.
During Tuesday’s regular trade, the Dow Jones Industrial Average added 369 points or 1.1% to 34,086.04, the S&P 500 gained 58.8 points or 1.5% to 4,076.6, and the Nasdaq Composite lifted 190.7 points or 1.7% to 11,584.6.
On the bond markets, United States 10-Year rates were at 3.512%.
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