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Dow futures little changed, Cadence Design Systems falls 3.9% after earnings

Published 2023-07-24, 07:18 p/m
Updated 2023-07-24, 07:18 p/m
© Reuters.

Investing.com - U.S. stock futures were trading steady during Monday's evening deals, following a positive session among major benchmark averages as market participants braced for further earnings from major companies throughout the week.

By 19:10 ET (23:10 GMT), Dow Jones futures, S&P 500 futures, and Nasdaq 100 futures were trading within a range of 0.1%.

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In extended deals, Cadence Design Systems (NASDAQ:CDNS) dipped 3.9%, reporting Q2 EPS of $1.22 versus $1.18 expected, while revenues were reported at $976.58 million versus $975.99M expected. The company forecasted FY2023 EPS in the range of $5.05-$5.11 versus $5.03 expected and revenues in the range of $4.05 billion-$4.09B versus the $4.06B expected.

F5 Networks (NASDAQ:FFIV) lifted 8.7% after the company reported Q3 EPS of $3.21 versus $2.86 expected on revenues of $703M versus $698.81M expected.

NXP Semiconductors (NASDAQ:NXPI) added 1.7% after the company reported Q2 EPS of $3.43 versus $3.28 expected, while revenue came in at $3.3B versus $3.21B expected.

Ahead in Tuesday's trade, investors will be closely monitoring fresh housing price index and CB consumer confidence data as well as quarterly earnings results from companies including Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL) (NASDAQ:GOOG), Visa (NYSE:V), Texas Instruments (NASDAQ:TXN), Verizon Communications (NYSE:VZ), General Electric (NYSE:GE), and UBS Group (NYSE:UBS).

Also in focus is the U.S. Federal Reserve’s interest rate decision on Wednesday, amid expectations of a further 25 basis point rate hike.

During Monday's regular session, the Dow Jones Industrial Average added 183.6 points or 0.5% to 35,411.2, the S&P 500 added 18.3 points or 0.4% to 4,554.6, and the Nasdaq Composite lifted 26.1 points or 0.2% to 14,058.9.

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On the bond martkets, United States 10-Year rates were at 3.878%.

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