Dow Futures Lift as Fears of Slowing Growth Remain -Breaking
Investing.com – moved higher in Tuesday’s evening deals after major benchmark indices finished mixed, with technology companies retreating after social media company Snap Inc (NYSE:) Warning of slowing growth
By 6:45 ET (13:45 GMT) the market was at 0.4%. It had increased 0.6%, and gained 0.7%.
Urban Outfitters Inc. (NASDAQ) increased 6.1%, despite Q1EPS of $0.33. This was despite $0.42 expectations. Revenues were $1.05 Billion, rather than the $1.07B expected.
Use Intuit Inc (NASDAQ) saw 2.6% growth after Q3 earnings per share of $7.65. This beat analyst expectations of $7.58. Quarterly revenue came to $5.63 Billion, which was higher than the $5.51B expected.
Nordstrom Inc The stock rose 9.8% following Q1 company losses of 6 cents per share versus 5cents anticipated, and revenue of $3.57 Billion versus $3.29 Billion estimates. Nordstrom CEO Erik Nordstrom said the company has experienced a surge in demand from shoppers refreshing their closets for “long-awaited occasions.”
Toll Brothers Inc (NYSE) saw a 5.5% increase in its Q2 earnings per share of $1.85. This beats estimates of $1.5. The quarter’s revenue was $2.28 billion, compared to $2.08 billion as expected.
Caleres Inc. (NYSE:), saw 11.6% growth in Q1 earnings per share, versus $0.83 for revenues of $735.1million versus $686.58m expected.
Agilent Technologies Inc (NYSE) saw a 1% increase in revenue after reporting Q2 earnings per share of $1.13. This was higher than analyst estimates of $1.12. The revenue came in at $1.61 Billion, compared to $1.62 Billion expected.
Market participants will closely monitor the Federal Open Market Committee’s latest developments and keep them informed. Corporate earnings will also be in focus with Dick’s Sporting Goods Inc (NYSE:) set report earnings Wednesday before the bell while Snowflake Inc (NYSE:) and NVIDIA Corporation (NASDAQ:) are slated to post results after the bell.
During Tuesday’s regular session, the added 48.4 points, or 0.2%, to 31,928.62, the moved 0.8% lower to 3,941.48 and the fell 270.8 points or 2.4% to 11,264.45.
Block Inc (NYSE.) declined 9% while Amazon.com Inc. fell 3.2% and Meta Platforms Inc. was down 7.6%. Alphabet Inc. dropped 5%.
The yields on the bond market fell to 2.754%, despite growing fears of recession.