Dow futures tick higher, NetApp surges 11.6% after earnings

Investing.com – US stock futures were trading steady during Tuesday’s evening deals, following a moderately positive session for major benchmark averages as investor optimism grew around the possibility that the Federal Reserve may have completed its cycle of interest rate hikes.

By 6:45pm ET (11:45 pm GMT) was 0.1% higher while and remained flat.

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In extended deals, Workday, Inc. (NASDAQ:) added 6.9% after the company EPS of $1.53 versus $1.41 expected on revenues of $1.87 billion versus $1.85 billion expected. the company also raised its 2024 subscription revenue guidance.

CrowdStrike Holdings Inc (NASDAQ:) fell 1.1% after EPS of $0.82 versus $0.74 expected on revenues of $786 miillion versus $777.31 million expected.

NetApp (NASDAQ:) surged 11.6% after EPS of $1.58 versus $1.39 expected on revenues of $1.56 billion versus $1.53 billion expected.

Ahead in Wednesday’s trade, market participants will be closely watching the second preliminary data for the third quarter and the wholesale inventories report for October.

Among earnings, Hormel Foods Corporation (NYSE:) and Dollar Tree Inc (NASDAQ:) are expected to release their quarterly results before the market opens, and Salesforce Inc (NYSE:) will announce its earnings after the market close.

During Tuesday’s regular trading session, the main indices reported modest gains. The rose 0.2%, the climbed 0.1%, while the saw an increase of 0.3%.

Federal Reserve Governor, Christopher Waller, made remarks on Tuesday suggesting that the current monetary policy is adequately restrictive to bring inflation back down to the central bank’s 2% target. These comments further bolstered investor optimism and supported stock prices.

On the bond markets, rates fell to 10 week lows of 4.325%.