Dow Futures Rise After Snapping 2-day Losing Streak
Posted On June 3, 2022
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© Reuters Dow Futures Rise After Snapping 2-day Losing Streak
By Oliver Gray
Investing.com – U.S. stock futures lifted during Thursday’s evening deals, after major benchmark indices finished the regular session higher in choppy trade as investors remain wary of persistent inflation pressures ahead of key nonfarm payrolls data due later in the session.
By 6:55pm ET (10:55pm GMT) Dow Jones Futures were up 0.1% while S&P 500 Futures and Nasdaq 100 Futures added 0.2% apiece.
In extended deals, Okta Inc (NASDAQ:OKTA) moved 16.6% higher after reporting Q1 losses of $0.27 per share, beating market expectations of a $0.34 loss. Revenue was at $414.9 million versus $388.8 million expected.
Joann Inc (NASDAQ:JOAN) moved 14.2% lower as the company reported Q1 losses of $0.22, $0.32 worse than estimates of $0.10. Revenue came in at $498 million versus $516.96 million expected.
Lululemon Athletica Inc (NASDAQ:LULU) moved 2.3% higher after reporting Q1 EPS of $1.16 versus $1.43 expected, while revenues were at $1.61 billion versus $1.55 billion expected.
RH (NYSE:RH) was little changed as the luxury home furnishings company reported Q1 EPS of $7.78 versus $5.38 expected, while revenues were at $957.3 million versus $925 million expected.
Zumiez Inc (NASDAQ:ZUMZ). fell 7.8% as the company reported Q1 losses of $0.02 per share versus earnings of $0.07 per share expected. Revenue for the quarter came in at $220.7 million versus $217.28 million expected.
Tillys Inc (NYSE:TLYS) dipped 6.3% after reporting Q1 EPS of $0.03 versus $0.02 expected, while revenue came in at $145.8 million versus $145.79 million expected.
Crowdstrike Holdings Inc (NASDAQ:CRWD) fell 2.5% after despite reporting earnings of $0.31 versus $0.23 expected on revenues of $487.8 million versus $463.9 million expected.
Cooper Companies Inc (NYSE:COO) fell 3.3% after reporting Q2 EPS of $3.24 versus $3.43 expected, while revenue came in at $829.8 million versus $821 million.
Market participants will be closely monitoring fresh nonfarm payrolls data as well as new purchasing managers’ index data from Markit and ISM slated for release later in the session.
During Thursday’s regular session, the Dow Jones Industrial Average gained 435.05 points, or 1.3%, to 33,248.28, the S&P 500 lifted 1.8% to 4,176.82 and the NASDAQ Composite added 2.7% to 12,316.90.
On the data front, Investors were also digesting ADP employment data which showed the slowest job creation pace of the pandemic-era recovery.
On the bond markets, United States 10-Year yields were at 2.911%.