Dow Futures Little Changed, Earnings and NFP in Focus By
2022-08-02 09:25:13
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Dow Futures Little Changed, Earnings and NFP in Focus © Reuters.

By Oliver Gray

- U.S. stock futures traded flat during Monday’s evening deals, after major benchmark indices snapped three sessions of consecutive advance as market participants remain cautious ahead of continued earnings reports and key NFP data due later in the week.

By 7:10pm ET (11:10pm GMT) Dow Jones Futures and S&P 500 Futures were trading flat while Nasdaq 100 Futures ticked 0.1% higher.

In extended deals, Pinterest (NYSE:PINS) added 21.7% after reporting Q2 EPS of $0.11 versus $0.18 expected on revenues of $665.93 million versus $671.41 million expected, while Elliott Management confirmed a stake in the company.

Avis Budget Group (NASDAQ:CAR) moved 6.3% higher after reporting Q2 EPS of $15.94, beating estimates of $11.59. Revenue came in at $3.24 billion versus $3.19 billion expected.

ZoomInfo Technologies Inc (NASDAQ:ZI) gained 12.4% after the company reported Q2 EPS of $0.21, versus $0.18 expected on revenues of $267.1 million versus $254.63 million.

Arista Networks (NYSE:ANET) lifted 5.3% after reporting Q2 EPS of $1.08, above estimates of $0.92, while revenue came in at $1.05 billion versus $978.95 million expected.

Ahead in the session, investors will be watching fresh earnings data companies such as Starbucks Corporation (NASDAQ:SBUX), PayPal Holdings Inc (NASDAQ:PYPL), Caterpillar Inc (NYSE:CAT) and Advanced Micro Devices Inc (NASDAQ:AMD). Meanwhile, July’s nonfarm payrolls report slated for release Friday will also be closely watched.

During Monday’s regular session, the Dow Jones Industrial Average shed 46.7 points or 0.1% to 32,798.4, the S&P 500 slipped 11.7 points or 0.3% to 4,118.6 while the NASDAQ Composite lost 21.7 points 0.2% and closed at 12,368.98.

On the data front, the ISM manufacturing PMI came in at 52.8 better than the expected 52, posting the 26th consecutive month of expanding factory activity but at the slowest rate since June 2020 as prices softened to two year lows.

On the bond markets, United States 10-Year rates were at 2.588%.

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