Dow futures steady, GameStop surges 47.4% after earnings

By Oliver Gray

Investing.com - U.S. stock futures were trading in a tight range during Tuesday's evening deals, after major benchmark averages finished the regular session in a positive fashion as market participants look ahead to Wednesday's key interest rate decision from Federal Reserve policymakers.

By 18:40 ET (22:40 GMT) Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were each trading within a range of 0.1%.

In extended deals, GameStop Corp (NYSE:GME) popped 47.4% after reporting Q4 EPS of $0.16 versus expected losses of $0.13 per share, while revenue was reported at $2.23 billion versus $2.18B expected.

Nike Inc (NYSE:NKE) ticked 1.9% lower after the company reported Q3 EPS of $0.79 versus $0.55 expected on revenues of $12.4B versus $11.47B expected.

Paysign Inc (NASDAQ:PAYS) lifted 2.6% after reporting Q4 EPS of $0.01, in-line with expectations, while revenue came in at $10.6M versus $10.77M expected. The company also forecast Q1 2023 revenue in the range of $10.2M-$10.3M versus $10.544M expected.

Meme stocks rallied following the results, with Bed Bath & Beyond Inc (NASDAQ:BBBY) up 7.4% and AMC Entertainment Holdings Inc (NYSE:AMC) adding 0.2%.

Ahead in Wednesday's session, the Federal Reserve will conclude its two-day policy meeting, announcing the interest rate decision and holding a press conference.

On the earnings front, companies including Tencent Holdings Ltd (OTC:TCEHY) and Winnebago Industries Inc (NYSE:WGO) are set to deliver quarterly results.

During Tuesday's regular trade, the Dow Jones Industrial Average added 316 points or 1% to 32,560.6, the S&P 500 gained 51.3 points or 1.3% to 4,002.9, and the Nasdaq Composite added 184.6 points or 1.6% to 11,860.1.

On the bond markets, United States 10-Year rates were at 3.608%.