Dow futures trade higher as Fed delivers 0.5% hike

  • Stock Market News
Dow futures trade higher as Fed delivers 0.5% hike

By Oliver Gray - U.S. stock futures were trading slightly higher during Wednesday’s evening trade, after major benchmark averages closed lower during the regular session as Federal Reserve policymakers raised rates by 50 basis points, noting that it will continue to raise rates throughout 2023.

By 18:40 ET (23:40 GMT) Dow Jones Futures and Nasdaq 100 Futures were up 0.2% apiece while S&P 500 Futures advanced 0.3%.

In extended deals, Lennar Corporation (NYSE: LEN ) dipped 2.8% after reporting EPS of $5.02 versus $4.88 expected on revenues of $10.17 billion versus $9.98B expected.

Planet Labs PBC (NYSE: PL ) added 3.8% after the company reported losses of $0.08 per share versus expected losses of $0.13 per share, while revenues came in at $49.7 million versus $47.19M expected.

Ahead in Thursday’s session, market participants will be looking towards fresh retail sales and jobless claims data as well as the Philadelphia Fed manufacturing index .

During Wednesday’s regular trade, the Dow Jones Industrial Average lost 142.3 points or 0.4% to 33,966.4, the S&P 500 fell 24.3 points or 0.6% to 3,995.3, and the NASDAQ Composite lost 85.9 points or 0.8% to 11,170.9.

On the bond markets, United States 10-Year rates were at 3.494%.


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