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Dow futures trade flat, Rent the Runway surges 23.5% after earnings

AuthorOliver Gray
Published 12/07/2022, 06:26 PM
Updated 12/07/2022, 06:26 PM
© Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures were little changed during Wednesday’s evening deals, after major benchmark averages finished mixed as investors weighed growing prospects of an economic downturn.

 By 18:20 ET (23:20 GMT) Dow Jones Futures, S&P 500 Futures, and Nasdaq 100 Futures were each trading within a range of 0.1%.

In extended deals, Rent the Runway Inc (NASDAQ:RENT) popped 23.5% after reporting Q3 losses of $0.56 per share versus expected losses of $0.71 per share, while revenue came in at $77.4 million versus $79.88M.

HashiCorp Inc (NASDAQ:HCP) lifted 6.9% after the company reported Q2 losses of $0.13 per share versus expected losses of $0.32 per share. Revenue was reported at $125.3M versus $111.09M expected.

Ahead in Thursday’s trade, market participants will be looking toward fresh jobless claims data, while earnings results from companies including Costco Wholesale Corp (NASDAQ:COST), Lululemon Athletica Inc (NASDAQ:LULU), DocuSign Inc (NASDAQ:DOCU), and Broadcom Inc (NASDAQ:AVGO) will also be closely monitored.

During Wednesday’s regular trade, the Dow Jones Industrial Average finished little changed at 33,597.9, the S&P 500 fell 7.3 points or 0.2% to 3,933.9, and the NASDAQ Composite lost 56.3 points or 0.5% to 10,958.6.

On the bond markets, United States 10-Year rates were at 3.421%.

 

Latest comments

In rate levels where we are, and they are goin much much higher, the s&p should trade BETWEEN 11-14X. NOT A DROP MORE. 14X IS PUSHING IT. Really 12-13X is normal. You youngsters just dont know any better because you have never seen it or been taught it. What a shame. Well reality is not what we have now. And your about TO SEE that OCCUR. Total RESET of marlet index prices and stocks. And for all you who say, we are already down a lot. We are down 17%. The nasdaq is still up 700% since 2010. Just think about that. S&p 500+% still up amd dow even worse up 750% since 2010. So we have a longggggg way to go till we are at least just overvalued markets, not egregiously disgustingly fantasy land overvalued!!! Remeber this. Energy and healthcare is what you buy. Thats it. You sell every piece pf tech ya have. You havent seen anything yet. Apple 90-100$. Msft 150-170$. And or vix well above 50. No bottom. Amd one last thing. Terminal rate will be 7%+ easy at a minimum. And thats not even high!
When stocks and markets rocket up solely because the metrics are only really bad but not horrible... they'd even you know the rug pull is just around the corner.
$200 a share times 14X is 2800. Thats at best and 200 a share is high. We been living in a fale market since 2008. Time to really pay the piper. Math and fundamentals. Not free money and 0% rates. Just watch how far the marlet needs ro reprice to just reality. Will still.be overvalued at 2800, but its a start. You prob wpnt understand this and how rates should be wayyyyyy higher unless your 45 or older. Otherwise you prob think 0% rates and unlimited cash pumped into the stock market is normal. ITS THE FURTHEST THING FROM NORMAL FYI youngsters. Take the red pill. Wake up. Do your history lessons on arthur burns. Fed head 1970-1979. Disaster. And we are repeating the SAME THING as burns did. We need VOLCKER NOW!!!!!!!!
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