Dow Futures Ease Ahead of Major Retailer Earnings
2022.08.16 02:29
By Oliver Gray
Investing.com – U.S. stock futures were trading slightly lower during Monday’s evening deals, after major benchmark averages finished the regular session higher as investors proved optimistic ahead of earnings reports from major retailers later in the week.
By 7:10pm ET (11:10pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each trading 0.1% lower.
In extended deals, Ginkgo Bioworks Holdings (NYSE:DNA) lifted 20.4% after the company reported Q2 losses of $0.41 per share, greater than expected losses of $0.05 per share. Revenue was reported at $145 million versus $78.83 million expected.
Fabrinet (NYSE:FN) gained 11.7% after reporting Q4 EPS of $1.68 versus $1.54 expected while revenue came in at $587.9 million versus $581.48 million expected.
Compass Inc (NYSE:COMP) shed 12.4% after reporting Q2 losses of $0.24 per share, larger than expected losses of $0.17 per share. Revenue for the quarter came in at $2.02 billion versus $2.11 billion expected.
Ziprecruiter Inc (NYSE:ZIP) fell 6% after the company reported Q2 EPS of $0.11, better than the estimates of $0.06, while revenue came in at $239.9 million versus $233.83 million.
Ahead in the week, investors will be watching for the minutes from the Federal Reserve’s July meeting, for further clues on the aggressiveness of future interest rate hikes. Market participants will also be monitoring fresh earnings reports from major retailers, with Home Depot Inc (NYSE:HD) and Walmart Inc (NYSE:WMT) set to post results before the bell on Tuesday while Target Corporation (NYSE:TGT) and Lowe’s Companies Inc (NYSE:LOW) will report on Wednesday.
During Monday’s regular session, the Dow Jones Industrial Average added 151.39 points, or 0.45% to close at 33,912.44. The S&P 500 rose 0.4% to 4,297.14, while the NASDAQ Composite edged 0.62% higher to close at 13,128.05.
On the bond markets, United States 10-Year rates were at 2.793%.
