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Dow futures lift, Fed hikes 0.25% By Investing.com
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Stock Markets 5 hours ago (Mar 22, 2023 23:26)
© Reuters.
By Oliver Gray
Investing.com – U.S. stock futures were trading slightly higher during Wednesday’s evening deals, after major benchmark averages closed lower during regular hours as market participants reacted to the Federal Reserve’s widely expected 25 basis point hike, with Powell hinting at less aggressive moves looking forward as inflation pressures begin to ease.
By 7:00pm ET (11:00pm GMT) Dow Jones Futures added 0.2% while S&P 500 Futures and Nasdaq 100 Futures each gained 0.1%.
In extended deals, KB Home (NYSE:KBH) added 2.8% after reporting Q1 EPS of $1.45 versus $1.15 expected on revenue of $1.38 billion versus $1.31 billion expected.
Steelcase (NYSE:SCS) moved 9.3% higher after the company reported Q4 EPS of $0.19 versus $0.11 expected on revenues of $801.7 million versus $750.73 million expected.
MillerKnoll, Inc. (NASDAQ:MLKN) fell 4.9%, reporting Q3 EPS of $0.54 versus $0.42 expected, while revenue came in at $984.7 million versus $999.06 million expected.
Ahead in Thursday’s session, traders will be looking towards building permits, jobless claims, and new home sales, while companies including General Mills Inc (NYSE:GIS) and Darden Restaurants Inc (NYSE:DRI) are slated to report quarterly results.
During Wednesday’s regular trade, the Dow Jones Industrial Average fell 530.5 points or 1.6% to 32,030.1, the S&P 500 dipped 65.9 points or 1.7% to 3,936 and the NASDAQ Composite lost 190.2 points or 1.6% to 11,670.
On the bond markets, United States 10-Year rates were at 3.451%.
Dow futures lift, Fed hikes 0.25%
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