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Dow futures trade flat, China’s COVID spike in focus

Published 11/21/2022, 06:36 PM
© Reuters.
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By Oliver Gray

Investing.com - U.S. stock futures were trading steady during Monday’s evening deals, after major benchmark indices finished the regular session lower as market participants remained cautious after reports of China’s first COVID-related deaths since May stoked fears of fresh restrictions, while earnings results were also closely watched.

By 18:30 ET (23:30 GMT), Dow Jones Futures, S&P 500 Futures, and Nasdaq 100 Futures were each trading flat.

In extended deals, Dell Technologies (NYSE:DELL) lost 2.1% after reporting Q3 EPS of $2.30, above expectations of $1.61, while revenue came in at $24.7 billion versus $24.4 billion.

Zoom (NASDAQ:ZM) fell 7% after the company reported Q3 EPS of $1.07 versus $0.83 expected on revenue of $1.1 billion versus $1.09 billion expected.

Agilent Technologies (NYSE:A) added 4% after reporting Q4 EPS of $1.53, above $1.38 expected, while revenue was reported at $1.85 billion versus $1.76 billion expected.

Urban Outfitters (NASDAQ:URBN) lifted 2.5% after reporting Q3 EPS of $0.40 versus $0.42 expected, while revenues came in at $1.18 billion versus $1.16 billion expected.

Ahead in Tuesday’s session, investors will be closely monitoring speeches from Fed officials Mester, George, and Bullard, while the Richmond Manufacturing and Services indices are also set to be released.

On the earnings front, market participants will be watching for results from Best Buy Co Inc (NYSE:BBY), Helmerich & Payne Inc (NYSE:HP), Dollar Tree Inc (NASDAQ:DLTR), and Nordstrom Inc (NYSE:JWN).

During Monday’s regular trade, the Dow Jones Industrial Average fell 45.4 points or 0.1%, to 33,700.3, the S&P 500 fell 15.4 points or 0.4% to 3,949.94, and the NASDAQ Composite lost 121.6 points or 1.1% to 11,024.5.

On the bond markets, United States 10-Year rates were at 3.84%.

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