Investing.com – U.S. stock futures were trading lower during Monday’s evening deals, following a mixed session among major benchmark averages as investors focus on a slew of corporate earnings reports.
In extended deals, retail stocks were sent tumbling as Walmart Inc (NYSE:WMT) tanked 9.6% after cutting its Q2 and full 2023-year guidance, due to pricing actions aimed to improve inventory levels.
Target Corporation (NYSE:TGT) fell 4.9%, Macy’s Inc (NYSE:M) lost 3.9%, Home Depot Inc (NYSE:HD) shed 2%, Dollar Tree Inc (NASDAQ:DLTR) fell 4.3%, Five Below Inc (NASDAQ:FIVE) declined 2.7% and Costco Wholesale Corp (NASDAQ:COST) shed 3.2%.
Ahead in the session, the Federal Reserve is set to commence its two-day policy meeting, with market participants widely expecting a 75 basis point hike.
Earnings results will also be closely monitored with Coca-Cola Co (NYSE:KO),McDonald’s Corporation (NYSE:MCD) and General Motors Company (NYSE:GM) set to report on Tuesday before the bell while Alphabet Inc (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT), Chipotle Mexican Grill Inc (NYSE:CMG), United Parcel Service Inc (NYSE:UPS) and Enphase Energy Inc (NASDAQ:ENPH) are slated to report after the bell.
On the bond markets, United States 10-Year rates were at 2.807%.