Dow Futures Tick Higher as Indices Continue Historic Rout
By Oliver Gray
Investing.com - U.S. stock futures were trading slightly higher during Tuesday’s evening deals, after major benchmark indices continued to fall on slowing global growth concerns and higher interest rates, with the S&P 500 trading at fresh yearly lows while the Dow Jones Industrial Average officially entered bear market territory, down 20% from its recent highs.
By 7:05:pm ET (11:05pm GMT) Dow Jones Futures and S&P 500 Futures were up 0.2% while Nasdaq 100 Futures lifted 0.3%.
In extended deals, BlackBerry Ltd (NYSE:BB) fell 3% after the company reported Q2 losses of $0.05 per share versus expected losses of $0.07 per share. Revenue came in at $168 million versus $161.45 million expected.
Cal-Maine Foods Inc (NASDAQ:CALM) fell 0.6%, despite reporting Q2 EPS of $2.57 versus $2.38 expected, while revenue was reported at $658.3 million versus $605.1 million expected.
Ahead in Wednesday’s session, investors will be paying close attention to speeches from FOMC members Bostic, Bullard, Powell and Bowman, as well as goods trade balance and pending home sales data.
During Tuesday’s regular deals, the Dow Jones Industrial Average fell 125.8 points or 0.4%, to 29,135, the S&P 500 fell 7.8 points or 0.2% to 3,647.3, while the NASDAQ Composite added 26.6 points or 0.3% to 10,829.5.
On the data front, CB consumer confidence came in at 108, beating expectations of 104.5, while new home sales were reported at 685K, above expectations of 500K.
On the bond markets, the United States 10-Year yield was steady near 12-year highs of 3.949%.
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