© Reuters
By Oliver Gray
Investing.com - U.S. stock futures were trading lower during Tuesday’s evening deals, after major benchmark averages started 2023 with significant declines as higher interest rates and persisting inflation pressures fuel fear of an economic downturn.
By 6:25pm ET (11:25pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each down by 0.1%.
In extended deals, Smart Global Holdings Inc (NASDAQ:SGH) added 7.6% after the company reported Q1 EPS of $0.79 versus $0.59 expected, while revenue came in at $465 million versus $447.18 million expected.
Ahead in Wednesday’s session, investors will be monitoring fresh FOMC meeting minutes as well as Job Openings and Labor Turnover Survey and the ISM manufacturing PMI.
During Tuesday’s regular trade, the Dow Jones Industrial Average finished little changed at 33,136.4, the S&P 500 lost 15.4 points or 0.4% to 3,824.1 and the NASDAQ Composite retreated 79.5 points or 0.8% to 10,387.
Among stocks, Tesla Inc (NASDAQ:TSLA) tanked 12.4% after delivery data came in below expectations, while Apple Inc (NASDAQ:AAPL) fell 3.7% following reports of production cuts.
On the bond markets, United States 10-Year rates were at 3.752%.
