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Dow Futures Move Lower After S&P 500 Posts Four Day Win Streak

Published 08/07/2022, 00:08
Updated 08/07/2022, 00:08
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures were trading slightly lower during overnight deals on Thursday, after major benchmark averages finished the regular session higher as investors look ahead to key jobs data set to be released later in the session.

By 7:00pm ET (11:00pm GMT) Dow Jones Futures and S&P 500 Futures dipped 0.1% while Nasdaq 100 Futures lost 0.2%.

In extended deals, Levi Strauss & Co (NYSE:LEVI) 4.3% after the retailer reported quarterly earnings. The company reported Q2 EPS of $0.29, beating analyst estimates of $0.23 while revenue came in at $1.47 billion versus $1.43 billion expected.

WD-40 Company (NASDAQ:WDFC) dipped 10.1% after reporting Q3 EPS of $1.07 versus $1.27 expected on revenues of $123.7 million versus $142.77 million expected.

GameStop Corp (NYSE:GME) fell 5.1% after announcing the appointment of Diana Saadeh-Jajeh as Chief Financial Officer and termination of the employment of Michael Recupero, effective immediately, while noting that it would lay off employees as part of its turnaround plan.

Twitter Inc (NYSE:TWTR) retreated 4.1% following reports that Elon Musk's deal to buy the social media giant is at risk after Musk's camp concluded Twitter's figures on spam accounts are not verifiable.

Ahead in the session, June’s nonfarm payrolls is expected to show an addition of 268K jobs, while the unemployment rate is expected to remain flat at 3.6%.

During Thursday’s regular trade, the Dow Jones Industrial Average added 346.9 points or 1.1% to 13,384.6, the S&P 500 gained 57.5 points or 1.5% to 3,902.6 and the NASDAQ Composite lifted 259.5 points to 2.3% to 11,621.4.

Energy stocks led the gains during regular trading, amid recovering Oil prices. Chevron Corp (NYSE:CVX) lifted 2%, Devon Energy Corporation (NYSE:DVN) gained 5.2%, Occidental Petroleum Corporation (NYSE:OXY) added 4% and Exxon Mobil Corp (NYSE:XOM) gained 3.2%.

Chipmakers were boosted following stronger than expected earnings guidance from Samsung (KS:005930), with NVIDIA Corporation (NASDAQ:NVDA) adding 4.8%, Advanced Micro Devices Inc (NASDAQ:AMD) up 5.2% and Intel Corporation (NASDAQ:INTC) adding 3.1%.

On the bond markets, United States 10-Year rates were at 3%.

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