Dow Futures Little Changed Ahead of Key Inflation Data
2022.05.11 02:06
By Oliver Gray
Investing.com – U.S. stock futures were little changed during Tuesday’s evening deals after major benchmark averages finished the regular session lower amid volatile conditions as investors look ahead to key inflation data later in the session.
by 6:45pm ET (10:45pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were trading flat.
In extended deals, Coinbase Global Inc (NASDAQ:COIN) shed 16.6% after reporting results. The company reported Q1 losses of $1.98 per share, $2.03 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $1.17 billion versus $1.5 billion expected.
Unity Software Inc (NYSE:U) tanked 27.3% after reporting losses per share of 8 cents versus 9 cents expected, while revenue came in at $320.1 million versus $321.35 million expected.
Roblox Corp (NYSE:RBLX) moved 3.8% lower after results, with Q1 losses of 27 cents per share versus analyst estimates of 20 cents, while revenues came in at $537.1 million versus $657.4 million expected.
Electronic Arts Inc (NASDAQ:EA) gained 2.4% after reporting as Q4 EPS came in at 80 cents versus $1.44 expected while quarterly revenue came in at $1.75 billion versus $1.77 billion expected.
Inovio Pharmaceuticals Inc (NASDAQ:INO) dropped 19.7% as the company reported Q1 losses of 36 cents per share, $0.02 worse than estimates of 34 cents. Revenue for the quarter came in at $199 thousand versus $670 thousand expected.
Market participants will be closely focused on the release of April’s consumer price index Wednesday morning after last month’s reading came in at 8.5%, the highest levels since December 1981. Economists are expecting a slightly cooler reading of 8.1% in April.
Investors are also looking to earnings reports from companies including Toyota Motor Corporation (NYSE:TM), Walt Disney Company (NYSE:DIS) and Beyond Meat Inc (NASDAQ:BYND).
During Tuesday’s regular trade, the Dow Jones Industrial Average dipped 84.96 points to 32,160.74, or 0.26%. The S&P 500 inched 0.25% higher to 4,001.05, and the NASDAQ Composite gained 0.98% to close at 11,737.67.
On the bond markets, United States 10-Year yields eased to 2.989%.
