Traders enactment connected the level astatine the New York Stock Exchange (NYSE) successful New York City, U.S., May 15, 2024.
Brendan McDermid | Reuters
Stock futures fell connected Tuesday evening aft the S&P 500 posted its archetypal back-to-back nonaccomplishment since aboriginal September.
Futures linked to the broad marketplace index mislaid astir 0.2%. Dow futures slid 159 points, oregon 0.4%, portion Nasdaq 100 futures dropped 0.2%.
In after-hours action, McDonald's fell astir 7%. The U.S. Centers for Disease Control and Prevention said an E. coli outbreak tied to the fast-food giant's Quarter Pounder burgers has resulted successful 10 radical being hospitalized and 1 death. Starbucks tumbled astir 4% aft the java concatenation issued preliminary quarterly results showing that its income fell again.
In regular trading, the S&P 500 and the Dow Jones Industrial Average some posted marginal declines. The Nasdaq Composite, however, roseate astir 0.2%.
The 10-year Treasury yield has been connected an upturn arsenic of late, concisely topping 4.2% connected Tuesday and keeping stocks nether pressure.
Robust economical data and shortage worries are among the factors down the emergence successful the 10-year Treasury output – contempt a half-point complaint chopped from the Federal Reserve successful September. Traders are besides increasing acrophobic that cardinal slope policymakers whitethorn beryllium little inclined to trim rates, adjacent arsenic the Fed had forecasted different half-point worth of trimming earlier the twelvemonth ends.
To beryllium sure, the backdrop for equities is inactive constructive, according to Jeff deGraaf, caput of method probe astatine Renaissance Macro Research.
"The trends are inactive affirmative and we don't person a batch of near-term momentum, but that's not the extremity of the satellite by immoderate means," helium said Tuesday connected CNBC's "Closing Bell." "In fact, a batch of times that results successful a bully setup due to the fact that it's a consolidation."
"By investing today, the adjacent 3 months historically are ne'er brighter than they are present astatine the extremity of October," deGraaf added.
A slate of notable names volition beryllium reporting net connected Wednesday. AT&T, Coca-Cola and Boeing are connected platform earlier the bell, portion Tesla and IBM volition stock results aft the close.
Stocks making the biggest moves aft hours
Check retired immoderate of the companies making headlines successful extended trading:
- Texas Instruments — The semiconductor institution added 2%. Third-quarter results topped analysts' estimates, arsenic Texas Instruments reported net of $1.47 per stock connected gross of $4.15 billion. Analysts sought net of $1.38 per stock and gross of $4.12 billion, per LSEG.
- Seagate Technology — The information retention institution slipped 3.6%. Seagate's guidance for $2.3 cardinal successful gross for the fiscal 2nd 4th was astir successful enactment with the Street's estimation for $2.29 billion, per LSEG. The institution topped analysts' estimates connected the apical and bottommost lines successful the archetypal quarter, however.
- Manhattan Associates — The proviso concatenation bundle institution declined astir 7%. Manhattan Associates forecast full-year gross successful the scope of $1.039 cardinal to $1.041 billion, portion analysts polled by FactSet were expecting $1.04 billion.
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— Brian Evans
Stock futures unfastened little
Stock futures were little connected Tuesday, aft the S&P 500 closed little for the second-consecutive day.
Futures tied to the Dow Jones Industrial Average pulled backmost 145 points, oregon 0.34%. S&P 500 futures were 0.11% lower, portion Nasdaq 100 futures ticked down 0.13%.
— Brian Evans
English (US) ·