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Dow futures lift after Fed rate hike, Meta surges 7% after earnings

Published 27/07/2023, 08:52 am
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Investing.com - U.S. stock futures were trading in a mixed fashion on Wednesday evening, following mixed trade among major averages after the Federal Reserve decided to hike rates by a further 25 basis points, in line with market expectations, while investors monitored ongoing earnings results from major companies.

By 18:55 ET (22:55 GMT), Dow Jones futures dipped 0.2%, S&P 500 futures were flat, and Nasdaq 100 futures added 0.2%.

Get the latest earnings results with InvestingPro.

In extended deals, Meta Platforms Inc (NASDAQ:META) lifted 7% reporting Q2 EPS of $2.98 versus $2.91 expected, on revenues of $32 billion versus $31.08B expected. The company also forecasted Q3 2023 revenues in the range of $32B-$34.5B expected versus $31.2B expected.

EBay (NASDAQ:EBAY) dipped 4.8% after the company reported Q2 EPS of $1.03 versus $0.99 expected, while revenues came in at $2.5B versus $2.51B expected. The company forecasted Q3 2023 EPS in the range of $0.96-$$1.01 versus $0.92 expected and revenues in the range of $2.46B-$2.52B versus $2.23B expected.

Chipotle Mexican Grill (NYSE:CMG) fell 8.5% after reporting Q2 EPS of $12.65 versus $12.29 expected, with revenues reported at $2.5B versus $2.53B expected.

Align Technology (NASDAQ:ALGN) surged 12.4% after reporting Q2 EPS of $2.22 versus $2.04 expected, while revenues came in at $1B versus $992.76B expected.

Ahead in Thursday's trade, market participants will be closely watching fresh core durable goods orders, GDP data, pending home sales, and jobless claims.

Earnings are set to continue, featuring major companies Mastercard Inc (NYSE:MA), McDonald’s Corporation (NYSE:MCD), Intel Corporation (NASDAQ:INTC), and Nestlé (OTC:NSRGF).

During Wednesday's session, the Dow Jones Industrial Average added 82.1 points or 0.2% to 35,520.1, the S&P 500 finished flat at 4,566.7, and the Nasdaq Composite eased 17.3 points or 0.1% to 14,127.3.

On the bond markets, United States 10-Year rates were at 3.877%.

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