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Dow futures trade flat, Powell speech in focus 1/9/2023
Dow futures trade flat, Powell speech in focus © Reuters Dow futures trade flat, Powell speech in focus

By Oliver Gray - U.S. stock futures were trading in a tight range during Tuesday's evening trade, after major benchmark averages finished mixed during the regular session as investors rotated toward riskier assets amid signs of a cooling economy and bets of less aggressive interest rates from Federal Reserve policymakers going forward.

By 6:30pm ET (11:30pm GMT) Dow Jones Futures, S&P 500 Futures and Nasdaq 100 Futures were each trading within a range of 0.1%.

In extended deals, Accolade Inc (NASDAQ:ACCD) added 5.3% after the company reported Q3 losses of $0.56 per share, better than expected losses of $0.62 per share, while revenue was reported at $90.9 million  versus $87.54 million expected

Ahead in Wednesday’s session, market participants will be closely monitoring Federal Reserve Chair Jerome Powell’s speech for any insights into the future path of interest rate hikes. In addition, wholesale inventories and NFIB business optimism are also slated for release.

In regular trading, the Dow Jones Industrial Average fell 113 points or 0.3% to 33,517.7, the S&P 500 eased 3 points or 0.1% to 3,892.1 and the NASDAQ Composite added 66.4 points or 0.6% to finish at 10,635.7, boosted by a rebounding tech sector, with Tesla Inc (NASDAQ:TSLA) lifting 5.9%, Inc (NASDAQ:AMZN) up 1.5%, Microsoft Corporation (NASDAQ:MSFT) adding 1% and NVIDIA Corporation (NASDAQ:NVDA) up 5.2%.

On the bond markets, United States 10-Year rates were at 3.527%.

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