Dow Futures Lift After Indices Attempt Rebound

By Oliver Gray - U.S. stock futures traded slightly higher during Monday's evening deals after major benchmark averages lifted from 9-week lows to finish higher during regular trade as market participants braced for further rate hikes from the Federal Reserve later in the week.

By 19:10 ET (23:10 GMT) Dow Jones Futures added 0.1% while S&P 500 Futures, and Nasdaq 100 Futures were up 0.2% apiece.

In extended deals, Ford Motor Company (NYSE:F) lost 4.4% after the company noted that third-quarter supplier costs will be roughly $1.0 billion higher than anticipated due to increased inflation pressures. General Motors Company (NYSE:GM) also dipped 2% after the news.

Cognex Corporation (NASDAQ:CGNX) gained 5.7% after the company increased its revenue guidance for Q3, with revenue expected between $195 million and $205 million, up from the company's previous guidance of $160 million to $180 million.

In policy news, the FOMC begins its two-day meeting on Tuesday, with analysts expecting a 75 basis point hike following last week’s higher-than-expected CPI figures. Meantime, housing starts and building permits data will also be closely watched.

During Monday’s trade, the Dow Jones Industrial Average rose 197 points or 0.6% to 31,019.7, the S&P 500 added 26.6 points or 0.7% to 3,899.9, and the NASDAQ Composite gained 86.6 points or 0.8% to 11,535.

On the bond markets, United States 10-Year rates were at 3.494%.

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