Dow Futures Up After Indices Tumble Into Bear Market
2022.06.14 01:56
By Oliver Gray
Investing.com – U.S. stock futures were trading higher during Monday’s evening deals, after major benchmark averages tumbled during regular trade, with the S&P 500 closing in bear market territory amid growing recession fears as traders nervously await this week’s key Federal Reserve meeting.
By 6:45pm ET (10:45pm GMT) Dow Jones Futures and S&P 500 Futures were up 0.3% while Nasdaq 100 Futures added 0.6%.
In extended deals, Oracle Corporation (NYSE:ORCL) added 13.7% after the company reported Q4 EPS of $1.54,versus $1.37 expected on revenues of $11.84 billion versus $11.62 billion expected.
Braze Inc (NASDAQ:BRZE) added 8.7% after reporting Q1 losses of $0.19 per share, beating expected losses of $0.21 per share, while revenue came in at $77.5 million versus $72.57 million expected.
Ahead in the session, May’s producer price index reading is slated for release and will be closely watched. On Wednesday, markets will be focused on the Fed’s interest rate decision, with some investors beginning to anticipate an even faster pace of interest rate hikes after last week’s inflation reports showed prices running hotter-than-expected.
During Monday’s regular trade, the Dow Jones Industrial Average dropped 876.05 points, or 2.79%, the S&P 500 fell 3.88% to 3,749.63, marking its lowest level since March 2021, while the NASDAQ Composite tumbled 4.68% to close at 10,809.23.
On the bond markets, United States 10-Year yields shot up to fresh 11-year highs of 3.362%.
