Dow Futures Trade Steady as Investors Brace for Fed Hike

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Investing.com – U.S. stock futures were trading in a tight range during Tuesday’s evening deals, after major benchmark averages retreated during the regular session as market participants look ahead to the Federal Reserve’s latest policy decision following the conclusion of its two-day meeting on Wednesday.

By 7:05pm ET (11:05pm GMT) Dow Jones Futures and S&P 500 Futures were flat while Nasdaq 100 Futures ticked 0.1% higher.

In extended deals, Advanced Micro Devices Inc (NASDAQ:AMD) lifted 4.1% after the company reported Q3 EPS of $0.67, below $0.68 expected, while revenue was reported at $5.6 billion versus $5.62 billion expected.

Airbnb Inc (NASDAQ:ABNB) dropped 6.2% after reporting Q3 EPS of $1.79, beating estimates of $1.44 while revenue came in at $2.88 billion versus $2.84 billion expected.

Match Group Inc (NASDAQ:MTCH) gained 16.2% after reporting Q3 EPS of $0.44 versus $0.52 expected on revenues of $809.5 million versus $795.5 million expected.

ZoomInfo Technologies Inc (NASDAQ:ZI) shed 21.5% after reporting Q3 EPS of $0.24 versus $0.20 expected on revenues of $287.6 million versus $278.52 million expected.

While a 75 basis point rate hike is widely expected from U.S. Federal Reserve policymakers later in the session, particular attention will be paid to Powell’s statement which may signal less aggressive hikes from December. In addition, investors will also monitoring fresh mortgage application data and ADP’s employment report, as well as earnings from companies including CVS Health Corp (NYSE:CVS), GlaxoSmithKline (NYSE:GSK), Paramount Global (NASDAQ:PARA) and Yum! Brands Inc (NYSE:YUM).

In Tuesday’s regular trade, The Dow Jones Industrial Average fell 79.8 points or 0.2% to 32,653.2, the S&P 500 lost 15.9 points or 0.4% to 3,856.1 and the NASDAQ Composite lost 97.3 points or 0.9% to 10,890.9.

On the bond markets, United States 10-Year rates were at 4.048%.