By Oliver Gray
Investing.com - U.S. stock futures were lower in early APAC deals on Wednesday after major benchmark indices rebounded during Tuesday’s regular trade, snapping three sessions of decline amid signs of easing tensions as the Russian government commented that some troops who had been on the Ukrainian border had returned to their bases.
On Tuesday, The Dow jumped 422.67 points or 1.2%, to 34,988.84, the S&P 500 climbed 1.6% to 4,471.07 and the Nasdaq Composite advanced 2.5% to 14,139.76.
Dow Jones Futures lost 0.1%, S&P 500 Futures was down 0.17% and Nasdaq 100 Futures lost 0.21%.
Among stocks, travel-related companies led the gains, with Boeing Co (NYSE:BA) up 3.66%, Southwest Airlines Company (NYSE:LUV) adding 4.23%, JetBlue Airways Corp (NASDAQ:JBLU) up 6.09%, Delta Air Lines Inc (NYSE:DAL) climbing 6%, American Airlines Group (NASDAQ:AAL) up 8.09%, United Airlines Holdings Inc (NASDAQ:UAL) gaining 7.56%, Expedia Inc (NASDAQ:EXPE) adding 7.49% and Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) lifting 6.92%.
Technology stocks came out ahead, with Block Inc (NYSE:SQ) gaining 3.2%, Amazon.com Inc (NASDAQ:AMZN) up 0.87%, Microsoft Corporation (NASDAQ:MSFT) adding 1.85%, Meta Platforms Inc (NASDAQ:FB) up 1.52%, Apple Inc (NASDAQ:AAPL) adding 2.32%, Alphabet Inc Class A (NASDAQ:GOOGL) up 0.8% and NVIDIA Corporation (NASDAQ:NVDA) climbing 9.18%.
EV makers also lifted with Tesla Inc (NASDAQ:TSLA) up 5.33%, Rivian Automotive Inc (NASDAQ:RIVN) adding 5.82% and Lucid Group Inc (NASDAQ:LCID) up 5.21%
Energy companies were the biggest losers as crude oil prices fell. Occidental Petroleum Corporation (NYSE:OXY) was down 3.35%, Exxon Mobil Corp (NYSE:XOM) lost 1.25%, Chevron Corp (NYSE:CVX) fell 1.76% and ConocoPhillips (NYSE:COP) lost 2.04%.
In extended deals, Airbnb Inc (NASDAQ:ABNB) added 3.85% after reporting strong fourth-quarter results and guidance. EPS came in at 8 cents vs 3 cents expected while posting revenue of $1.53 billion vs $1.46 billion expected.
Meantime, Roblox Corp (NYSE:RBLX) plummeted 15.08% after-hours as fourth-quarter results missed expectations on the top and bottom line.
On the data front, the producer price index remained elevated, increasing 1% for the month, coming in above estimates of 0.5% as robust demand labor and material shortages and transportation disruptions were carried over to 2022.
On the bond markets, United States 10-Year yields were at 31-month highs of 2.043%.
Ahead in the session, market participants will be watching Earnings season also continues on Wednesday, with a number of companies set to report quarterly updates including Applied Materials Inc (NASDAQ:AMAT), Hyatt Hotels Corporation (NYSE:H), AMC Entertainment Holdings Inc (NYSE:AMC), NVIDIA Corporation (NASDAQ:NVDA) and Cisco Systems Inc (NASDAQ:CSCO).