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Dow Futures Trade Lower as Inflation Cools, Disney Reports

Stock Markets Aug 10, 2022 07:08PM ET
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By Oliver Gray 

Investing.com - U.S. stock futures were trading slightly higher during Wednesday’s evening deals, following a strong rally among major benchmark average during regular trade as highly anticipated inflation data eased slightly from 41-year highs.

By 19:00 ET (23:00 GMT) Dow Jones Futures were little changed while S&P 500 Futures and Nasdaq 100 Futures dipped 0.2% apiece.

In extended deals, Walt Disney (NYSE:DIS) added 6.8% after reporting Q3 EPS of $1.09 versus $0.98 expected on revenue of $21.5 billion versus $20.99 billion expected.

Sonos (NASDAQ:SONO) fell 19% after reporting Q3 EPS of $0.19, beating estimates of $0.06 while revenue came in at $371.8 million versus $424.03 million expected.

Bumble Inc (NASDAQ:BMBL) dipped 11.6% after the company reported Q2 losses of $0.03 per share, worse than expected losses of $0.01 per share. Revenue came in at $220.45 million versus $219.55 million.

Vacasa Inc (NASDAQ:VCSA) lifted 29.6% after reporting Q2 EPS of $0.02, better than expected losses of $0.18, while revenue came in at $310.35 million versus $285.46 million expected.

Matterport Inc (NASDAQ:MTTR) gained 16.8%, reporting Q2 losses of $0.12,slightly beating expected losses of $0.14. Revenue came in at $28.48 million versus $29.6 million expected.

Applovin Corp (NASDAQ:APP) fell 9.3% after reporting Q2 losses of $0.06, below expected EPS of $0.15. Revenue came in at $776.23 million versus $839.67 million expected.

Ahead in Thursday’s session, investors will be tracking initial jobless claims data as well as July’s producer price index print. Earnings from companies such as Rivian Automotive Inc (NASDAQ:RIVN), Warby Parker Inc (NYSE:WRBY) and Poshmark Inc (NASDAQ:POSH) will also be closely monitored.

During Wednesday’s regular session the Dow Jones Industrial Average jumping 535.1 points or 1.6% to 33,309.5, the S&P 500 added 2.1% to 4,210.2 and the NASDAQ Composite gained 2.9% to 12,854.8.

 On the data front, the headline consumer price index for July came in at 8.5%, below 8.7% expected and cooling from 41-year highs, sparking speculation of less aggressive rate hikes at the U.S. Federal Reserve’s next meeting.

On the bond markets, United States 10-Year rates were at 2.785%.

 
Dow Futures Trade Lower as Inflation Cools, Disney Reports
 

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Comments (5)
Stas Mazur
Perma_Bear Aug 11, 2022 9:07AM ET
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"Dow futures trade lower", "stock futures were trading slightly higher". Author, stay off the drugs.
Samuel Nartey
Samuel Nartey Aug 10, 2022 10:39PM ET
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John Kochkerian
John Kochkerian Aug 10, 2022 8:50PM ET
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Update the d a M n article. FUDDER!!!
William Smith
William Smith Aug 10, 2022 8:12PM ET
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Wow, inflation is ONLY 8.5%.
Kris Jay
Kris Jay Aug 10, 2022 8:12PM ET
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you captured the retail traders sentiment today!   two back to back 75bps hikes and inflation dropped 0.5% ( or so we think or know).  somehow the market says fed will now pivot in September and drop rates when in reality, they have just begun and have a lot of hiking to do to get inflation dow to 2% sometime late in 2023 if they are lucky.
Joel Schwartz
Joel Schwartz Aug 10, 2022 8:03PM ET
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The rate of inflation can cool and wages can still lag behind cost of living. Those aren’t mutually exclusive.
 
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