Dow futures steady, Snap plummets 32.5% after earnings By Investing.com



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Investing.com – US stock futures experienced minimal changes on Tuesday, as investors sifted through a new set of quarterly results, marking the midpoint of the corporate earnings season.

By 7:00 pm ET (12:00 am GMT) , and were down by 0.1% apiece.

In extended deals, Snap Inc (NYSE:) plummeted by over 32.5% after the social media giant EPS of $0.08 versus expected losses of $0.17 per share, while revenue came in at $1.36 billion versus $1.38 billion expected.

Ford Motor Company (NYSE:) shares rose by more than 6% after the automaker reported EPS of $0.29 versus $0.12 expected, while revenues came in at $46 billion versus $43.04 billion expected. The automaker also revealed plans to distribute a special dividend.

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Wall Street has been drawing strength from a robust earnings season and anticipations of an interest rate cut by the Federal Reserve. However, some uncertainties have surfaced after Federal Reserve Chair Jerome Powell indicated last week that a shift in the central bank’s stance might take longer than investors expected. In a recent interview with “60 Minutes”, Powell reiterated the need for more positive inflation data before considering a rate reduction. His remarks have led to speculations of fewer rate cuts this year than previously hoped.

During Tuesday’s regular trade, the added 141.2 points or 0.4% to 38,521.4, the added 11.4 points or 0.2% to 4,954.2 and the lifted 11.3 points or 0.1% to 15,609.

Investors are now shifting their focus towards the upcoming quarterly results from media giant Walt Disney Company (NYSE:), as well as Uber Technologies Inc (NYSE:) and PayPal Holdings Inc (NASDAQ:), scheduled for release on Wednesday.

On the bond markets, rates were at 4.104%.



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