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Dow futures slip after Fed holds rates, Fedex adds 5.4% after earnings
Published Sep 20, 2023 23:54
© Reuters.
Investing.com -U.S. stock futures were trading in a tight range during Wednesday's evening deals, following a pullback among major benchmark averages after Federal Reserve officials held rates and projected less rate cuts than expected for next year.
By 6:50pm ET (10:50pm GMT) Dow Jones Futures and S&P 500 Futures eased 0.1% while Nasdaq 100 Futures fell 0.2%.
In after-hours trade, FedEx Corporation (NYSE:FDX) was up 5.4% after the company reported EPS of $4.55 versus $3.7 expected on revenues of $21.7 billion versus $21.73 billion expected.
General Mills Inc (NYSE:GIS) was little changed after reporting EPS of $1.09 versus $1.08 expected, while revenues were reported at $4.9 billion versus $4.89 billion expected.
KB Home (NYSE:KBH) dipped 1.9% after the company reported EPS of $1.8 versus $1.44 expected on revenues of $1.59 billion versus $1.48 billion.
Ahead in Thursday's trade, market participants will be monitoring the Philadelphia Fed manufacturing and employment indexes, weekly jobless claims as well as existing home sales and Q2 current account data.
During Wednesday's regular trade, the Dow Jones Industrial Average lost 76.9 points or 0.2% to 34,440.9, the S&P 500 dipped 41.7 points or 0.9% to 4,402.2 and the NASDAQ Composite shed 209.1 points or 1.5% to 13,469.1.
On the bond markets, United States 10-Year rates were reached fresh 16-year highs of 4.414%.
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