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Dow futures tick lower, Netflix down 0.4% after earnings

Published 04/19/2023, 07:02 AM
© Reuters
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By Oliver Gray

Investing.com - U.S. stock futures were trading lower during Tuesday's evening deals following a mixed session among major benchmark averages as market participants weighed earnings results from major companies including Goldman Sachs Group (NYSE:GS) and Bank of America (NYSE:BAC).

By 18:55 ET (22:55 GMT), Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were down 0.1% apiece.

In extended deals, Netflix (NASDAQ:NFLX) fell 0.4% after the company reported Q1 EPS of $2.88 versus $2.86 expected on revenues of $8.16 billion versus $8.17 expected.

Interactive Brokers (NASDAQ:IBKR) fell 3.7%, reporting Q1 EPS of $1.35 versus $1.40 expected on revenues of $1.06 billion versus $1.03 billion expected.

Metropolitan Bank Holding (NYSE:MCB) popped 14.2% after the company reported Q1 EPS of $2.25 versus $1.94 expected, while revenue came in at $65.5 million versus $66.65 million expected.

Western Alliance Bancorporation (NYSE:WAL) added 15% after reporting Q1 EPS of $2.30 versus $1.97 expected, with revenue coming in at $551.9 million versus $675.91 expected.

Ahead in Wednesday's trade, market participants will be monitoring the Fed's Beige Book as well as a speech from the FOMC's Williams.

Among reporting companies, Tesla (NASDAQ:TSLA), L'Oréal ADR (OTC:LRLCY), Morgan Stanley (NYSE:MS), Rio Tinto ADR (NYSE:RIO), International Business Machines (NYSE:IBM), U.S. Bancorp (NYSE:USB), and KeyCorp (NYSE:KEY) are slated to release quarterly results throughout the session.

During Tuesday's regular trade, the Dow Jones Industrial Average and the Nasdaq Composite finished little changed, down 10.6 and 4.3 points, respectively, while the S&P 500 added 3.6 points or 0.1% to 4,154.87.

On the data front, preliminary building permits and housing starts data both fell from the previous month's reading, while FOMC member Bowman noted that financial conditions appear to have calmed following the collapse of SVB Financial Group and Signature Bank last month. Bowman also played down the need for a digital U.S. dollar, noting privacy risks and potential damage to the banking system.

On the bond markets, United States 10-Year rates were at 3.578%.

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