Dow futures rose after indices attempt to rebound

Dow futures rose after indices attempt to rebound

by Oliver Gray – U.S. stock futures traded slightly higher during overnight trades on Monday after key record averages rose from 9-week lows to close higher during regular trading as market participants braced for more Federal Reserve announcements later in the week.

By 7:10 PM ET (11:10 PM GMT), it added 0.1% while rising 0.2% each.

In extended deals, Ford Motor Company (NYSE:) lost 4.4% after the company indicated that supplier costs in the third quarter would be about $1.0 billion higher than expected due to increased inflation pressures. General Motors Corporation (NYSE) stock also fell 2% after the news.

Cognex Corporation (NASDAQ:) gained 5.7% after the company increased its revenue guidance for the third quarter, with revenue expected to be between $195 million and $205 million, up from the company’s previous guidance of $160 million to $180 million.

In policy news, the Federal Open Market Committee begins its two-day meeting on Tuesday, with analysts forecasting 75 basis points after higher-than-expected CPI numbers last week. In the meantime, the data will also be closely monitored.

During Monday’s trading, it rose 197 points, or 0.6%, to 31,019.7, added 26.6 points, or 0.7%, to 3899.9, and increased 86.6 points, or 0.8%, to 11535.

In the bond markets, rates were 3.494%.

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