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Dow futures trade flat as Nordstrom, HP report earnings

Stock Markets Nov 23, 2022 03:19PM ET
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By Oliver Gray

Investing.com - U.S. stock futures were trading in a tight range during Tuesday’s evening deals, after major benchmark indices finished the regular session higher as market participants proved optimistic amid easing inflation pressures and prospects of smaller interest rate increases from U.S. Federal Reserve policymakers.

By 18:35 ET (23:35 GMT) Dow Jones Futures and S&P 500 Futures remained little changed, while Nasdaq 100 Futures ticked 0.1% lower.

In extended deals, Nordstrom Inc (NYSE:JWN) lost 8.8% after reporting EPS of $0.20 versus $0.13 expected on revenues of $3.5 billion versus $3.47 billion expected, while reaffirming its full-year guidance.

Autodesk Inc (NASDAQ:ADSK) shed 9% after reporting EPS of $0.17 and revenue at $1.28 billion, both in line with expectations.

VMware Inc (NYSE:VMW) lost 1.3% after the company reported EPS of $1.47 versus $1.59 expected, while revenue came in at $3.2 billion versus $3.35 billion expected.

Ahead in Wednesday’s session, minutes from the latest FOMC meeting will be closely watched for further insight into the central bank’s future monetary policy settings, amid growing speculation of a smaller 50 basis point increase in December as inflation pressures ease. In addition, investors will be monitoring fresh jobless claims, durable goods, and new home sales data.

Markets will remain closed on Thursday for Thanksgiving and are also set to close early on Friday.

During Tuesday’s regular trade, the Dow Jones Industrial Average added 397.8 points or 1.2% to 34,098.1, the S&P 500 gained 1.4% or 53.6 to 4,003.6, and the Nasdaq Composite gained 149.9 points or 1.4% to 11,174.4.

On the bond markets, United States 10-Year rates were at 3.758%.

Correction: This story has been corrected to say Nordstrom reaffirmed its full-year guidance. An earlier version mischaracterized its outlook.

Dow futures trade flat as Nordstrom, HP report earnings
 

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