Dow Futures Move Lower Amid Volatile Trade and Surging Yields -Breaking
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© Reuters. Oliver Gray
Investing.com reports that U.S. stocks futures fell on Monday after the benchmark averages closed higher. This was despite volatile trading and wild swings in technology stocks. Meanwhile, Treasury yields rose ahead of a Federal Reserve interest rate rise later in this week.
They were at 6:45 ET (10:45 GMT) both 0.2% and 0.3% lower by the end of the day.
For extended deals Chegg Inc The stock price of (NYSE:) dropped 30.6%, despite the better-than-expected results and weak guidance for full year. Chegg earned 32 cents per share on revenue of $202 million, which was expected to be $201 million.
Devon Energy Corporation (NYSE:) lifted 3.2% after . The earnings per share were $1.88, versus the expected $1.75 on revenue of $3.8billion and $4 billion respectively. Additionally, the company announced an increase in dividends and buybacks.
Harmonic Inc The stock rose 9.3% to $0.08 Q1 earnings versus $0.04 estimates. Quarterly revenue was $147.4 Million versus $136.4 million consensus.
Monolithic power Systems Inc (NASDAQ) gained 6.1% following the Q1EPS of 2.45 by the company compared to $2.26 anticipated on revenues of 377.7 millions versus $360.52m.
Clorox Co The stock dropped 1.9% after Clorox cut its full-year gross profit outlook due to continuing inflationary worries. Clorox’s EPS was $1.31, which is 97cs less than the expected revenue of $1.81billion. This compares to $1.79billion expected.
Avis Budget Group Inc (NASDAQ:) gained 7.7% as quarterly surpassed analysts’ expectations. On revenues of $2.4 Billion, Q1EPS was $9.99. This compares to $3.45 which is expected.
Later in the session, Earnings Reports continue with Restaurant Brands International Inc. (NYSE:). Pfizer Inc (NYSE:) and Paramount Global (NASDAQ:) slated to report before the opening bell, while Airbnb Inc (NASDAQ:), Advanced Micro Devices Inc (NASDAQ:), LYFT Inc (NASDAQ:) and Starbucks Corporation (NASDAQ:) are also expected to report.
Traders will be watching for (JOLTS), the most recent reading, which is scheduled at 10:00 a.m. ET Tuesday
On Wednesday, the Federal Open Market Committee (FOC) will make a statement. It will be made public at 2:05 p.m. ET. Federal Reserve Chairman Jerome Powell will hold a meeting at 2:20 p.m.
During Monday’s regular trade, The rose 1.63% to 12,536.02, while the rose 0.57% to 4,155.38. Closed at 33,061.50 was The, which gained 84.29 Points, or 0.26%.
The yields on the bond market were at or near their 3-year record high of 2.977%.
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