stockmarket

Dow Futures Tick Higher as Major Indices Rebound




By Oliver Gray 

Investing.com – U.S. stock futures moved modestly higher on Tuesday evening after major benchmark indices rebounded from recent losses during regular trade, however, traders remain cautious of a potential recession after Federal Reserve Chair Jerome Powell noted at a Wall Street Journal conference on Tuesday that “there won’t be any hesitation” about raising rates until inflation is under control.

By 6:45pm ET (10:45pm GMT) and were up 0.1% apiece while gained 0.2%.

In extended deals, QualTek Services Inc (NASDAQ:) popped 23.1% after Q1 losses of 20 cents per share, beating expectations of a 48 cents loss, while revenue came in at $148.2 million versus $137.51 million expected.

Corporacion America Airports (NYSE:) lifted 0.2% after Q1 EPS of $0.16 versus x expected on revenues of $258.1 million versus $226.74 million expected.

QuickLogic Corporation (NASDAQ:) fell 6% after Q1 losses of 6 cents per share versus losses of 7 cents expected. Revenue for the quarter came in at $4.1 million versus estimates of $4 million.

Agilysys Inc (NASDAQ:) gained 11.3% after Q4 EPS of 24 cents, beating estimates of 17 cents, with revenues coming in at $46.6 million versus estimates of $43.78 million.

Corporate earnings are set to continue on Wednesday, with Target Corporation (NYSE:) and Lowe’s Companies Inc (NYSE:) reporting results before the opening bell. Ahead in the week, investors will be monitoring fresh data for and due out Friday morning.

During Tuesday’s trading session, the jumped 431.17 points, or 1.34%, to 32,654.59, the added 2% to 4,088.85 and the added 2.76% to 11,984.52.

Major financial players were boosted after Warren Buffett’s conglomerate revealed it added a nearly $3 billon stake in Citigroup Inc (NYSE:) during the first quarter. Citizens Financial Group Inc (NYSE:) gained 3.7% JPMorgan Chase & Co (NYSE:) added 3.3%, Bank of America Corp (NYSE:) lifted 3.4% and Morgan Stanley (NYSE:) gained 3.8%.

Travel related companies popped after United Airlines raised its revenue outlook for the second quarter on improved consumer demand. JetBlue Airways Corp (NASDAQ:) lifted 8.2%, Delta Air Lines Inc (NYSE:) gained 6.7%, American Airlines Group (NASDAQ:) added 7.7% and United Airlines Holdings Inc (NASDAQ:) lifted 7.9%.

On the bond markets, yields were at 2.995%.



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