Dow Futures Move Higher Following Negative Session By Investing.com

Dow Futures Move Higher Following Negative Session

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By Oliver Gray

Investing.com - U.S. stock futures were trading slightly higher in Monday’s evening deals after major benchmark averages finished the regular trading session lower as last week’s comeback rally stalled.

By 6:50pm ET (10:50pm GMT) Dow Jones Futures and S&P 500 Futures were pointing 0.1% higher while Nasdaq 100 Futures were up 0.2%.

In extended deals, Nike Inc (NYSE:NKE) moved 2.7% lower after the company reported Q4 EPS of $0.90, beating estimates of $0.81 while revenue came in at $12.23 billion versus $12.09 billion expected.

Several major banks raised their dividends in response to successfully clearing this year’s Federal Reserve stress tests, with Morgan Stanley (NYSE:MS) moving 3.3% higher while Goldman Sachs Group Inc (NYSE:GS) added 1.7%.

Robinhood Markets Inc (NASDAQ:HOOD) fell 4.9% after FTX CEO Sam Bankman-Fried denies having mergers and acquisitions conversations with Robinhood.

Ahead in the session, market participants will be monitoring fresh consumer confidence and housing price data.

During Monday’s trade, the Dow Jones Industrial Average fell 62.4 points or 0.2%, to 31,438.3, the S&P 500 lost 0.3% to 3,900.1 and the NASDAQ Composite dipped 0.7%, falling to 11,524.6.

Heavyweight technology companies closed lower with Block Inc (NYSE:SQ) down 2.2%, Amazon.com Inc (NASDAQ:AMZN) falling 2.8%, Microsoft Corporation (NASDAQ:MSFT) down 1.1% and Alphabet Inc (NASDAQ:GOOGL) dipping 1.8%.

Energy companies bucked the overall trend, with Occidental Petroleum Corporation (NYSE:OXY) up 2.4%, Devon Energy Corporation (NYSE:DVN) adding 7.5%, Diamondback Energy Inc (NASDAQ:FANG) up 3.9% and Chevron Corp (NYSE:CVX) gaining 1.9%.

On the bond markets, United States 10-Year yields were at 3.202%.

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Comments (1)

Noah Thomas Jun 28, 2022 6:12

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