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Dow futures tick lower, CPI eases

Stock Markets Mar 14, 2023 06:48PM ET
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 By Oliver Gray 

Investing.com - U.S. stock futures were trading lower during Tuesday's evening trade, after major indices posted a positive session with the Dow lifting from 5-week lows, as investors reacted positively to weakening inflation pressures following the seizure of SVB Financial Group (NASDAQ:SIVB) and Signature Bank (NASDAQ:SBNY).

By 18:45 ET (22:45 GMT) Dow Jones futures and Nasdaq 100 futures fell 0.2% apiece while S&P 500 futures dipped 0.1%.

In extended deals, Smartsheet (NYSE:SMAR) added 12.2% after the company reported Q4 EPS of $0.07 versus expected losses of $0.01 per share, while revenue came in at $212.3 million versus $206.25M expected. Smartsheet forecasted Q1 2024 EPS in the range of $0.08-$0.09 versus expected losses of $0.06 per share, while revenue was forecasted at $213M-$215M versus consensus of $217M.

SentinelOne (NYSE:S) added 5.7% after reporting Q4 losses of $0.13 per share versus expected losses of $0.16 per share, while revenue came in at $126.1M versus $124.69M expected.

Vacasa Inc (NASDAQ:VCSA) dipped 11.5%, reporting Q4 losses of $0.70 per share versus expected losses of $0.37 per share. Revenue was reported at $218M versus $206.24M expected.

Ahead in Wednesday's session, market participants will be looking towards producer price data, retail sales, and the NY empire state manufacturing index.

During Tuesday's regular trade, the Dow Jones Industrial Average added 336.3 points or 1.7% to 32,155.4, the S&P 500 lifted 63.5 points or 1.1% to 3,919.3, and the Nasdaq Composite gained 239.3 points or 2.1% to 11,428.2.

On the bond markets, United States 10-Year rates were at 3.685%, while United States 2-Year rates were at 4.246%.

 
 
 
Dow futures tick lower, CPI eases
 

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Comments (9)
William Peck
William Peck Mar 15, 2023 3:27AM ET
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I anticipate a dead cat rally to s&p 3975 at which point a short could be quite profitable entering the fed meeting, but at that point a finger on the sell/pivot trigger
Paul Browning
Paul Browning Mar 15, 2023 3:27AM ET
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I think we saw the dead cat bounce yesterday. Moody downgraded the US banking system. The technicals indicate a deep dive coming now.
tom kazz
tom kazz Mar 14, 2023 10:41PM ET
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Joe Biden and the democrats destroying America
Jeff Chevalier
Jeff Chevalier Mar 14, 2023 10:41PM ET
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Okay troll. Nobody actually here for financial info pays attention to your cr@p.
William Smith
William Smith Mar 14, 2023 9:33PM ET
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False headline. YOY Core CPI went up.
Brad Albright
Brad Albright Mar 14, 2023 9:33PM ET
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Wrong. Current YOY Core CPI is 5.5%. Previously 5.6%. Get your facts straight.
tom kazz
tom kazz Mar 14, 2023 9:33PM ET
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Brad Albright  Joe Biden is destroying America.  Open borders, crime, mental illness wars.  Want a disgrace.
tom kazz
tom kazz Mar 14, 2023 9:33PM ET
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Brad Albright  CPI for food over 10%  shameful.  Joe Biden is a traitor.
William Smith
William Smith Mar 14, 2023 9:33PM ET
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My error, it was MOM CPI that went up.
marki bigjohnson
marki bigjohnson Mar 14, 2023 9:19PM ET
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I hope everyone knows they are just going to revise the number higher.
Edward Bishop
Edward Bishop Mar 14, 2023 7:27PM ET
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All market news today was complete propaganda trying to squash any chance of a panic. You can't pound the table on core CPI being the only thing that matters and then stop reporting it when it doesn't say what you want it to. Bloomberg TV was absolutely disgraceful with how blatantly Mike tried to avoid discussing services inflation as the data was released.
Chad Richer Than You
Chad Richer Than You Mar 14, 2023 7:14PM ET
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Catch 22 situation. Fed should fight inflation with higher rates, but it is already evident that it is not possible to do so. Buckle up because 20% CPI prints are coming. Mass QE. Zero rates.
William Smith
William Smith Mar 14, 2023 7:14PM ET
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If that happens obviously the entire monetary system collapses.
JIM VETTER
JIM VETTER Mar 14, 2023 7:12PM ET
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get real. MoM core CPI went up. Inflation isn't going anywhere. And if Powell pauses, it's going to really gain traction and we'll have 1970s stagflation all over again. Let's see what mortgage rates of 18% do to the economy
William Smith
William Smith Mar 14, 2023 7:12PM ET
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If Powell let's up it won't be stagflation. It will be hyper inflation and economic collape.
JIM VETTER
JIM VETTER Mar 14, 2023 7:12PM ET
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William Smith at the end point, yes
Stephen Fa
Stephen Fa Mar 14, 2023 7:06PM ET
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CPI details: Food at home prices +10.2% YoY
Hunt Richardson
Hunt Richardson Mar 14, 2023 6:59PM ET
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the difference between forecasted and actual CPI was like the difference between the damages caused by a 7.5 earthquake and a 7.0 earthquake: both are bad
 
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