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 6:45pm ET (11:45pm 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 revenues of $1.3 billion versus $1.3 billion expected.
Match Group (NASDAQ:MTCH) fell 9.6%, reporting Q4 EPS of $0.30 versus $0.46 expected. Revenue was reported at $786 million $786.89 expected.
Electronic Arts (NASDAQ:EA) dipped 10.4% after the company reported Q3 EPS of $0.73 versus $0.50 expected on revenues of $2.34 billion.
Western Digital (NASDAQ:WDC) fell 6.8% after reporting Q2 EPS of $0.42 versus expected losses of $0.14, while revenues came in at $3.11 billion versus $2.99 billion 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 $5.6 billion versus $5.52 billion 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 boost 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 ADR (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 34,095.1, 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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