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Dow futures trade lower, FedEx dips 3.2% after earnings

Published 21/06/2023, 00:02
© Reuters.
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Investing.com - U.S. stock futures were trading slightly lower on Tuesday evening as market participants returned to trade after a public holiday, with major benchmark indices cooling from multimonth highs during the regular session.

By 18:55 ET (22:55 GMT), Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were down 0.1% apiece.

Analyze corporate earnings results with InvestingPro.

In extended deals, FedEx (NYSE:FDX) dipped 3.2% after the company reported Q4 EPS of $4.94 versus $4.86 expected, while revenues were reported at $21.9 billion versus $22.59B expected. The company also forecasted FY2024 EPS in the range of $16.50-$18.50 versus $18.36 expected.

Ahead in Wednesday's trade, investors will be looking towards key speeches from the Fed's Powell, Cook, and Jefferson, as well as FOMC member Mester.

On the earnings front, companies including Winnebago Industries Inc (NYSE:WGO) and KB Home (NYSE:KBH) are set to release quarterly results.

During Tuesday's regular trade, the Dow Jones Industrial Average fell 245.3 points or 0.7% to 34,053.9, the S&P 500 lost 20.9 points or 0.5% to 4,388.7, and the Nasdaq Composite lost 22.3 points or 0.2% to 13,667.3.

Among data releases, housing starts and building permits came in above analyst expectations.

On the bond markets, United States 10-Year rates were at 3.727%.

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