Dow futures down 0.1%, Virgin Orbit tanks 41.2% after-hours

By Oliver Gray 

Investing.com - U.S. stock futures were trading in a tight range during Thursday's evening deals, after benchmark indices posted the second session of gains as rising jobless claims data boosted bets of a Fed rate slowdown.

By 18:30 ET (22:30 GMT) Dow Jones futures and Nasdaq 100 futures ticked 0.1% lower while S&P 500 futures traded flat.

In extended deals, Virgin Orbit Holdings Inc (NASDAQ:VORB) tanked 41.2% after the company announced a workforce reduction of 85% of the company’s workforce in order to reduce expenses.

Y-mAbs Therapeutics (NASDAQ:YMAB) added 13.7%, reporting Q4 EPS of $0.03, beating expected losses of $0.44 per share, while revenue came in at $31.5 million versus $20.35M expected.

Rumble Inc (NASDAQ:RUM) added 18.4% after reporting Q4 EPS of $0.00 versus expected losses of $0.01 per share on revenues of $20M versus $10.18M expected.

Ahead in Friday's session, market participants will be closely watching the release of the core PCE price index, Chicago PMI, Michigan consumer sentiment and expectations, as well as speeches from FOMC member Williams and Fed governor Cook.

During Thursday's regular trade, the Dow Jones Industrial Average added 141.4 or 0.4% to 32,859, the S&P 500 added 23 points or 0.6% to 4,050.8, and the Nasdaq Composite added 87.2 points or 0.7% to 12,013.5.

On the bond markets, United States 10-Year rates were at 3.547%.