Indices Recorded Big Losses in the First Half

US stock futures fell in Thursday's evening trading as investors retreated after the major benchmark averages ended the first half of the year with significant losses amid strengthening inflationary pressures, tightening monetary policy and the ongoing war in Ukraine.

Indices Recorded Big Losses. As of 19:00 ET (11:00 GMT), Dow Jones Futures were down 0.2%, while S&P 500 Futures and Nasdaq 100 Futures were down 0.3% each. In extended trading, Micron Technology Inc (NASDAQ:MU) shares fell 2.6% following disappointing fiscal fourth-quarter guidance. The company reported earnings per share of $2.59 versus expectations of $2.46 on revenue of $8.64 billion versus expectations of $8.68 billion. Ahead of the session, investors will look at the latest ISM manufacturing index and construction spending data. In Thursday's trading, the Dow Jones Industrial Average lost 0.8% to 253.9, the S&P 500 fell 0.9% to 33.5 and the NASDAQ Composite lost 1.3% to 149.2. In the first half of 2022, the Dow Jones Industrial Average lost 15.2%, the S&P 500 20.6% and the NASDAQ Composite 29.5%. Among stocks, Walgreens Boots Alliance Inc (NASDAQ:WBA) fell 7.3% after the company reported earnings, reiterating full-year estimates. EPS came in at $0.96 versus $0.91 expected on revenue of $32.6 billion versus $32.1 billion expected. Major tech players declined, with Amazon.com Inc (NASDAQ:AMZN) down 2.5%, Microsoft Corporation (NASDAQ:MSFT) down 1.3%, Meta Platforms Inc (NASDAQ:META) down 1.6% and Tesla Inc (NASDAQ:TSLA) down 1.8%. Among the data, the US Department of Commerce released the core personal consumption expenditures price index, the Fed's preferred measure of inflation. The figure of 4.7% for May was below expectations of 4.8% and hovered around levels last seen in the 1980s. Chicago PMI, which tracks business activity in the region, was realized as 56 in June, slightly below the expectations of 58.3. In the US, personal spending rose by 0.2% in May, the weakest increase this year and below market forecasts of 0.4%. In bond markets, US 10-year interest rates were at 3.015%.