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Investing.com – U.S. stock futures traded slightly higher during Monday’s evening deals after major benchmark averages lifted from 9-week lows to finish higher during regular trade as market participants braced for further rate hikes from the Federal Reserve later in the week.
By 7:10pm ET (11:10pm GMT) Dow Jones Futures added 0.1% while S&P 500 Futures and Nasdaq 100 Futures were up 0.2% apiece.
In extended deals, Ford Motor Company (NYSE:F) lost 4.4% after the company noted that third-quarter supplier costs will be roughly $1.0 billion higher than anticipated due to increased inflation pressures. General Motors Company (NYSE:GM) also dipped 2% after the news.
Cognex Corporation (NASDAQ:CGNX) gained 5.7% after the company increased its revenue guidance for Q3, with revenue expected between $195 million and $205 million, up from the company’s previous guidance of $160 million to $180 million.
In policy news, the FOMC begins its two-day meeting on Tuesday, with analysts expecting a 75 basis point hike following last week’s higher than expected CPI figures. Meantime, housing starts and building permits data will also be closely watched.
During Monday’s trade, the Dow Jones Industrial Average rose 197 points or 0.6% to 31,019.7, the S&P 500 added 26.6 points or 0.7% to 3,899.9 and the NASDAQ Composite gained 86.6 points or 0.8% to 11,535.
On the bond markets, United States 10-Year rates were at 3.494%.
