Latest News

Dow futures lift, Fed hikes 0.25%


Dow futures lift, Fed hikes 0.25% By

Breaking News


Stock Markets 5 hours ago (Mar 22, 2023 23:26)

© Reuters.

By Oliver Gray – 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%

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information

© 2007-2023 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

Stock market today: Dow ends down as Fed hikes, Powell shoots down rate-cut bets

Previous article

Fed sees credit drawdown looming, shifts towards pause on rate hikes

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News