Dow Futures Tick Higher, Nike Sheds 9.3% After Reporting

By Oliver Gray 

Investing.com - U.S. stock futures were trading slightly higher during Thursday’s evening trade, after major benchmark indices fell during regular trade as investors retreated amid further expected interest rate increases by Federal Reserve officials and slowing global growth.

By 19:20 ET (23:20 GMT) Dow Jones Futures added 0.2%, while S&P 500 Futures and Nasdaq 100 Futures gained 0.3% apiece.

In extended deals, Nike Inc (NYSE:NKE) fell 9.3% as the company reported Q1 EPS of $0.93, just above estimates of $0.92 while revenue for came in at $12.69 billion versus $12.29 billion expected.

Micron Technology Inc (NASDAQ:MU) fell 0.2% after reporting Q4 EPS of $1.45, beating expectations of $1.41. Revenue was reported at $6.64 billion versus $6.81 billion expected.

Comtech Telecommunications Corp (NASDAQ:CMTL) lifted 2.6% as the company reported Q4 adjusted losses of $0.02 per share, better than expected losses of $0.10 per share. Revenue came in at $127 million versus $122.69 million expected.

Ahead in Friday’s session, market participants will be monitoring PCE price index readings, as well as personal income and spending data. Investors will also be noting several Fed speeches from Barkin, Brainard, Mester and Williams.

During Thursday’s regular trade, the Dow Jones Industrial Average dropped 458.1 points or 1.54% to 29,225.6, the S&P 500 fell 78.6 points or 2.1% to 3,640.5 to close at fresh yearly lows, and the NASDAQ Composite shed 314.1 points or 2.84% to 10,737.5.

On the bond markets, United States 10-Year rates were at 3.782%.