© Reuters.
By Oliver Gray
Investing.com – Stock futures lifted in Tuesday’s overnight trading as investors braced for further rate hikes from Federal Reserve policymakers as they move to tame surging inflation pressures.
By 6:45pm ET (10:45pm GMT) were up 0.2%, gained 0.3% and were up 0.4%.
All eyes will be on the Federal Reserve’s today as the Federal Open Market Committee concludes its two-day meeting, with some analysts expecting a 0.75% increase following last week’s hotter than expected inflation reading and worsening economic outlook.
During Tuesday’s regular trade, the tumbled 0.4% to 3,735.48, the dropped 151.9 points or 0.5%, to 30,364.83 while the rose 0.2% to finish at 10,828.4.
Shares of Oracle Corporation (NYSE:) popped 10.4% after a better than expected earnings beat, citing a “major increase in demand” among its infrastructure cloud business.
Travel-related stocks finished lower as Delta Air Lines Inc (NYSE:) fell 2.6%, American Airlines Group (NASDAQ:) dropping 2.8%, United Airlines Holdings Inc (NASDAQ:) lost 0.1%, Expedia Inc (NASDAQ:) dipped 4.1% and Norwegian Cruise Line Holdings Ltd (NYSE:) fell 3.7%.
Technology companies lifted slightly, with Microsoft Corporation (NASDAQ:) up 0.9%, Alphabet Inc (NASDAQ:) adding 0.3%, Apple Inc (NASDAQ:) gaining 0.7% and Tesla Inc (NASDAQ:) up 2.4%.
On the bond markets, yields surged to 11-year highs of 3.475%.
Be the first to comment