Dow Futures Tick Lower, Meta Dips 4.5% After Earnings

[view original post]

By Oliver Gray

Investing.com – U.S. stock futures moved slightly lower in overnight trading after major benchmark averages lifted during Wednesday’s session as Federal Reserve policymakers delivered 75 basis point hike.

By 7:10pm ET (11:10pm GMT) Dow Jones Futures and S&P 500 Futures declined 0.1% while Nasdaq 100 Futures were 0.4% lower.

In extended deals, Meta Platforms Inc (NASDAQ:META) fell 4.5% after the company reported Q2 EPS of $2.46, below estimates of $2.56, while revenue came in at $28.82 billion versus $28.94 billion expected.

Ford Motor (NYSE:F) gained 6.4% after reporting Q2 EPS of $0.68, beating analyst estimates of $0.45. Revenue was reported at $40.2 billion versus $37.05 billion expected.

Etsy (NASDAQ:ETSY) gained 8.5% after reporting Q2 EPS of $0.51 versus $0.32 expected on revenues of $585.1 million versus $558.47 million expected.

Qualcomm (NASDAQ:QCOM) fell 2.9% after reporting Q3 EPS of $2.96, slightly above estimates of $2.89, while revenue came in at $10.93 billion versus $10.87 billion expected.

Community Health Systems (NYSE:CYH) tanked 47.8% after the company reported Q2 losses of $2.52 per share, well below estimated EPS of $0.07. Revenue for the quarter was reported at $2.93 billion versus $3.14 billion expected.

Ahead in Thursday’s session, investors will be monitoring earnings results from Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Intel Corporation (NASDAQ:INTC) and Comcast Corp (NASDAQ:CMCSA), while the U.S. Q2 GDP reading will also be closely watched.

During Wednesday’s regular trading session, the Dow Jones Industrial Average gained 436.05 points or 1.4% to 32,197.6, the S&P 500 added 2.6% to 4,023.6 and the NASDAQ Composite closed 4.1% higher at 12,032.4.

In policy news, Federal Reserve officials hiked rates by 75 basis points, with Fed Chair Jerome Powell noting that he does not believe the economy has entered a recession.

On the bond markets, United States 10-Year rates were at 2.785%.

Related Articles

Dow Futures Tick Lower, Meta Dips 4.5% After Earnings

U.S. needs to modernize nuclear systems to counter possible foreign threats – admiral

Senate Democratic deal includes new EV tax credits