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Dow futures trade lower, AMD down 0.4% after earnings

Published 01/11/2023, 09:48 am
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Investing.com - US stock futures were trading lower during Tuesday evening as market participants braced for for the Federal Reserve’s latest policy decision on interest rates amid a fresh slew of corporate earnings results.

By 6:45 pm ET (10:45 pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each down by 0.2%.

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In extended deals, Advanced Micro Devices, Inc. (NASDAQ:AMD) dipped 0.4% after the company reported Q3 EPS of $0.70 versus $0.68 expected, while revenues were at $5.8 billion versus $5.7 billion expected.

Yum China Holdings Inc (NYSE:YUMC) shed 8.9%, reporting Q3 EPS of $0.59 versus $0.66 expected, while revenues were reported at $2.91 billion versus $3.12 billion expected.

Match Group (NASDAQ:MTCH) fell 7.7% after the company reported Q3 EPS of $0.57 versus $0.53 expected on revenues of $882 million versus $879.9 million expected.

Paycom Software (NYSE:PAYC) shed 31%, reporting Q3 EPS of $1.77 versus $1.61 expected, while revenues came in at $406 million versus $411.15 million expected.

Ahead in Wednesday's trade, market participants will be closely monitoring ISM's manufacturing PMI, ADP nonfarm employment change, JOLTs job openings, as well as the Federal Reserve's interest rate decision and press conference.

On the earnings front, companies including Qualcomm Incorporated (NASDAQ:QCOM), Airbnb Inc (NASDAQ:ABNB), PayPal Holdings Inc (NASDAQ:PYPL) and Electronic Arts Inc (NASDAQ:EA) are scheduled to report quarterly results.

During Tuesday's regular session, the Dow Jones Industrial Average added 123.9 points or 0.4% to 33,052.9, the S&P 500 lifted 27 points or 0.7% to 4,193.8 and the NASDAQ Composite added 61.8 points or 0.5% to 12,851.2.

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On the bond markets, United States 10-Year rates were at 4.926%.

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