Dow Futures Flat After 3rd Consecutive Loss
2022.08.24 02:14
By Oliver Gray
Investing.com – U.S. stock futures remained little changed during Tuesday’s overnight deals after major benchmark indices declined for the third consecutive session as investors remain cautious ahead of the Jackson Hole Symposium later in the week, with Federal Reserve Chairman Jerome Powell expected to provide clues on the aggressiveness of future rate hikes.
By 6:55pm ET (10:55pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were all trading flat.
In extended deals, Nordstrom (NYSE:JWN) fell 13.6% after the company reported Q2 EPS of $0.81, slightly beating expectations of $0.80 while revenue came in at $4.1 billion versus $3.96 billion expected.
Intuit (NASDAQ:INTU) added 5.6% after reporting Q4 EPS of $1.10 versus $0.99 expected. Revenue came in at $2.41 billion versus $2.34 billion.
Urban Outfitters (NASDAQ:URBN) fell 2.7% after the company reported Q2 EPS of $0.64 versus $0.69 expected while revenues were reported at $1.18 billion, in-line with expectations.
Ahead in Wednesday’s session, investors will be looking towards durable goods and pending home sales data, while the Jackson Hole economic symposium is set to begin later in the week, with Powell slated to deliver his speech on Friday.
During Tuesday’s regular trade, the Dow Jones Industrial Average lost 154 points, or 0.5%, to 32,909.6, the S&P 500 fell 9.3 points or 0.2% to 4,128.7, while the NASDAQ Composite finished flat at 12,381.3.
On the bond markets, United States 10-Year rates were at 3.057%.
