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HomeTrading RoomAfter Tuesday's Significant Losses, Stock Futures Bounce Back and Trade Higher

After Tuesday’s Significant Losses, Stock Futures Bounce Back and Trade Higher

Following losses on Tuesday, U.S. stock futures saw gains on Wednesday.

The 84 points, or 0.25%, increase in the Dow Jones Industrial Average futures. S&P 500 futures gained 0.32%, while Nasdaq 100 futures gained 0.3%.

In after-hours trade, Costco stock dropped 2.5%. The membership club reported comparable revenues for its fiscal fourth quarter increased 1.1% year over year, but increased 0.2% in the United States. Separately, Costco outperformed analysts’ predictions for the time period in both top and bottom line results.

The 30-stock Dow saw its lowest day since March as it lost 388 points, or 1.14%, during the main trading session. S&P 500 losses were 1.47%, while Nasdaq Composite losses were 1.57%.

These losses followed statistics on new home sales and consumer confidence that fell short of economists’ expectations. Data from the Census Bureau and the Department of Housing and Urban Development show that there were 675,000 homes under contract in August. According to Dow Jones, 695,000 was what economists had predicted.

Source (CNBC)

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