por admin » Mar Dic 06, 2022 11:26 pm
Stock futures are flat on Tuesday night
Tanaya Macheel
Stock futures were little changed Tuesday night.
Futures tied to the Dow Jones Industrial Average were up 36 points, or 0.1% while S&P 500 futures and Nasdaq 100 futures were each up 0.1%.
In regular trading the Dow fell more than 350 points, or 1.03%. The S&P 500 and Nasdaq Composite lost 1.4% and 2%, respectively.
The moves came as investors lost hope that the Federal Reserve will be able to engineer a soft landing. Instead, concerns swirled around the state of the economy and whether an economic downturn is approaching.
“Investors couldn’t decide which they were more worried about: an impending recession, as implied by November declines for the ISM, Chicago PMI and Philly Fed, as well as housing data, or the threat of a more hawkish-leaning FOMC, as a result of stronger than expected employment data and factory orders,” said Sam Stovall, chief investment strategist at CFRA Research. “Stocks sold off across the board, as investors decided to take the profits generated by the last two monthly price gains, the first since August 2021.”
Investors await more economic data this week for clues on what to expect from the Fed. On Wednesday, the Mortgage Bankers Association will release its weekly report of mortgage loan applications.
There are also still several companies set to report earnings. Campbell Soup and GameStop will report results on Wednesday.
5 HOURS AGO
MongoDB, Dave & Buster’s among stocks making this biggest moves after hours
These are the stocks making the biggest moves after hours.
MongoDB — The database platform surged about 26% in extended trading after reporting better-than-expected revenue for the most recent quarter and upbeat fourth-quarter revenue guidance, according to Refinitiv.
Dave & Buster’s — Shares of the restaurant and video arcade operator dropped 5% after the company reported pro forma walk-in comparable store sales decreased 2.4% versus the comparable period in 2021.
Signature Bank — The bank to crypto businesses saw shares fall 3% following a report that the company is looking to offload up to $10 billion of its crypto-related deposits, representing about 23% of the company’s total deposits.
For further details and more movers check out our full list here.