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Dow futures trade flat, Steelcase adds 4.3% after earnings

Published Sep 20, 2023 06:54
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Investing.com - U.S. stock futures were trading in a tight range during Tuesday's evening deals, following a negative session among major benchmark averages amid rising yields ahead of the Federal Reserve's key interest rate decision.

By 6:50pm ET (10:50pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each trading within a range of 0.1%.

In extended deals, Steelcase (NYSE:SCS) added 4.3% after the company reported Q2 EPS of $0.31 versus $0.20 expected on revenues of $854.6 million versus $829.17 million expected.

Ahead in Wednesday's trade, investors will be expecting Federal Reserve policymaker to maintain interest rates at their current levels, while closely monitoring the FOMC statement and economic projections to gauge the future path of interest rates.

Among earnings, companies including FedEx Corporation (NYSE:FDX), General Mills Inc (NYSE:GIS) and KB Home (NYSE:KBH) are set to report quarterly results.

During Tuesday's regular trade, the Dow Jones Industrial Average dipped 106.6 points or 0.3% to 34,517.7, the S&P 500 lost 9.6 points or 0.2% to 4,443.9 and the NASDAQ Composite fell 32.1 points or 0.2% to 13,678.2.

On the bond markets, United States 10-Year rates were at fresh 16-year highs of 4.363%.

Dow futures trade flat, Steelcase adds 4.3% after earnings
 

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