After a higher close, US stocks are seen starting much lower on Wednesday, with several stocks in focus. The Dow Jones futures are 497 points down.
Carmax Inc (NYSE:KMX) shares are down 5.20% at US$56.84 before the bell as the firm's profit dropped in the fourth quarter.
Net profit came in at US$122.1mln, or US$0.67 per share, against US$152.6mln, or US$0.81 per share, in the same period last year.
Market reactions to China's reciprocal tariff on U.S. goods:— TicToc by Bloomberg (@tictoc) 4 April 2018
- EUR/USD rises to 1.2311 day high
- USD/JPY falls below 106.00
- Hang Seng Index falls 2.19%
- Dow contracts down 1.6%
- Copper in NY down 1.3%
- Boeing shares fall 3.4%https://t.co/elpZ52e64S pic.twitter.com/0AdPCjZBz2
The firm is seen as a US trade barometer and shares in the aircraft manufacturer fell as investors digest the impact of President Trump's new Chinese tariffs.
On an adjusted basis, the company earned US$1.11 a share. Analysts had expected the figure to be 77 US cents a share.
Acuity will release earnings before the markets open.