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Dow futures trade flat, GameStop lifts 3.4% after earnings

Published 09/07/2023, 07:24 AM
© Reuters. - U.S. stock futures were trading in a tight range during Wednesday's evening deals, following a negative session for major benchmark indices, as investors retreated fearing a further interest rate hike from Federal Reserve officials.

By 7:00pm ET (11:00pm GMT) Dow Jones Futures and Nasdaq 100 Futures were down by 0.1%, while S&P 500 Futures were flat.

In extended deals, GameStop (NYSE:GME) added 3.4%, reporting Q2 losses of $0.03 per share, beating expected losses of $0.14 per share, while revenues were reported at $1.16 billion versus $1.14 billion expected. Inc (NYSE:AI) fell 7.2%, after the company reported Q1 losses of $0.09 per share versus expected losses of $0.17 per share. Revenue came in at $72.4 million, versus $71.56 million expected.

Verint Systems (NASDAQ:VRNT) shed 15.5%, reporting Q2 EPS of $0.48 versus $0.57 expected, on revenues of $210 million versus $225.09 million expected.

UiPath Inc (NYSE:PATH) added 5.1% after the company {{erl-1172518||reported} Q2 EPS of $0.09 versus $0.04 expected, while revenue came in at $287 million versus $282.06 million expected.

Ahead in Thursday's session, market participants will be watching jobless claims, nonfarm productivity, unit labor costs as well as speeches from Harker, Williams, Bowman, Logan and Goolsbee.

During Wednesday's regular trade, the Dow Jones Industrial Average dipped 198.8 points or 0.6% to 34,443.2, the S&P 500 lost 31.4 points or 0.7% to 4,465.5 and the NASDAQ Composite lost 148.5 points to 1.1% to 13,872.5.

On the bond markets, United States 10-Year rates were higher at 4.3%.

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