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Dow Futures Up After Indices Tumble Into Bear Market By

© Reuters.

By Oliver Gray – US stock futures were trading higher during Monday’s evening deals, after major benchmark averages tumbled during regular trade, with the S&P 500 closing in bear market territory amid growing recession fears as traders nervously await this week’s key Federal Reserve.

By 6:45 pm ET (10:45 pm GMT) and were up 0.3% while added 0.6%.

In extended deals, Oracle Corporation (NYSE 🙂 added 13.7% after the company Q4 EPS of $ 1.54, versus $ 1.37 expected on revenues of $ 11.84 billion versus $ 11.62 billion expected.

Braze Inc (NASDAQ 🙂 added 8.7% after Q1 losses of $ 0.19 per share, beating expected losses of $ 0.21 per share, while revenue came in at $ 77.5 million versus $ 72.57 million expected.

Ahead in the session, May’s reading is slated for release and will be closely watched. On Wednesday, markets will be focused on the Fed’s, with some investors beginning to anticipate an even faster pace of interest rate hikes after last week’s reports showed prices running hotter-than-expected.

During Monday’s regular trade, the dropped 876.05 points, or 2.79%, the fell 3.88% to 3,749.63, marking its lowest level since March 2021, while the tumbled 4.68% to close at 10,809.23.

On the bond markets, yields shot up to fresh 11-year highs of 3.362%.

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