Stock futures were relatively flat Monday evening after all three major indexes dipped during trading hours.
During the day, the S&P 500, Dow Jones Industrial Average and the tech-filled Nasdaq Composite lost 0.3%, 0.2%, and 0.7%, respectively. The slight slip put a stop to last week’s rally, as investors awaited other clues on how quickly the Federal Reserve will raise interest rates. fed Chair Jerome Powell will participate in an economic policy discussion at the European Central Bank Forum on Wednesday morning.
After traders entered the weekend with a flurry of Friday afternoon activity, the week opened calmly. On Friday, FTSE Russell’s annual benchmark rebalancing and big gains resulted in the highest, single-day total composite volume since January 2021. Some 20.1 billion shares were traded across the New York Stock Exchange, Nasdaq, NYSE American, and NYSE Arca, as the S&P 500 made its largest single-day percentage gain, at 3.1%, since May 2020. However, Monday’s composite volumes on the New York Stock Exchange and Nasdaq—4.4 and 5 billion shares were exchanged, respectively—trailed the exchange’s daily averages for 2022 .
At 6:15 pm Eastern Time, futures for the S&P 500, Dow Jones Industrial Average, and Nasdaq were up 0.09%, 0.04%, 0.18%.
(ticker: NKE) was down 2.8% in after-hours trading. Its fourth-quarter earnings, reported after the bell on Monday, beat analysts’ expectations. The company made $1.4 billion in its fourth quarter, or 90 cents a share, surpassing expectations of 81 cents per share, though its income before taxes was down 26% compared with the fourth quarter in 2021. Greater China revenues were down 19% from 2021’s fourth quarter.
which also released earnings after the market closed Monday, dropped 4.1% after hours.
Other stocks losing ground in after-hours trading Monday included
), down 4.1%; other
), which lost 2.7% after its second-quarter earnings of $0.45 per share underwhelmed. The consensus estimate was $0.51 per share.
posted diluted earnings of $1.30 per share in the second quarter of 2021.
Evening gainers included
), up 3.6%;
), up 3.2%; other
), which had risen 3.5%.
On Tuesday, the S&P CoreLogic Case-Shiller National Home Price Index for April comes out at 9 am The index, named after economists Karl Case and Robert Shiller, measures home-price growth in large metropolitan areas across the country. For the year that ended in March, the index reported a 20.6% increase in average home prices, which was the largest annual increase since the metric’s inception in 1987.
The Conference Board also releases its June consumer confidence index at 10 am Nine economists surveyed by The Wall Street Journal expect the figure to drop to 101.1 from a May reading of 106.4. The index, which has fallen in recent months, is increasingly off its prepandemic level. It hovered around 130 for much of 2018 and 2019.
Enerpac Tool Group
(CGNT) report earnings before the market opens.
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