U.S. stocks opened lower a day after the Federal Reserve delivered its third large-size rate hike and signaled more increases to follow. 

The S&P 500 index fell 0.7% to 3,762.27 and the Nasdaq Composite index eased 1.1% to 11,102.95.   

Crude oil advanced $1.87 to $84.81 a barrel and natural gas edged down 8 cents to $7.69 a thermal unit. 

The yields on U.S. Treasuries continued to advance as investors factor in future rate hikes as rate increases over the last six months are having a minimal impact on sky-high inflation. 

The yield of 2-year Treasury notes inched up to 4.08%, 10-year notes increased to 3.56% and 30-year bonds rose to 3.52%

Accenture Plc eased 1.1% to $262.43 after the technology services provider said the fiscal year fourth quarter revenues increased 15% in the U.S. dollars and 22.4% in local currency to $15.4 billion compared to $13.4 billion a year ago. 

In the quarter ending in August, net income  increased 10.7% to $1.69 billion from $1.44 billion a year ago and diluted earnings per share rose to $2.60 from $2.20. 

New bookings in the quarter increased 31% in local currencies and 22% in U.S. dollars to $18.4 billion from a year ago. 

Darden Restaurants, Inc dropped 4.2% to $125.74 after the parent of Olive Garden said consolidated same store sales increased 4.2% in its latest quarter ending on August 28. 

Revenue in the fiscal year first quarter increased 6.1% to $2.44 billion from $2.31 billion a year ago. 

Net income declined $193 million from $230.9 million a year ago and diluted earnings per share declined to $1.56 from $1.75. 

FactSet Research Systems Inc declined 8.7% to 393.12  after the financial information systems developer reported revenue in the fiscal year fourth quarter 2022 increased 21.2% to $499.2 million from $411.9 million a year ago. 

Net income in the quarter ending in August rose 3.3% to $104.4 million from $101.0 million and diluted earnings per share increased to $2.69 from $2.63 a year ago. 

The number of clients generating more than $10,000 in annual subscription revenues increased 219 to 7,538. 

H B Fuller Company increased 0.6% to $60.18 after the maker of adhesives and sealants said fiscal third quarter revenues increased 13.8% to $941.20 million from a year ago. 

Net income in the quarter increased to $46.5 million from $31.6 million and diluted earnings per share rose to 84 cents from 58 cents a year ago. 

The company lifted its adjusted earnings per share estimate in the fourth quarter  in the range of $1.15 to $1.30, resulting in fiscal 2022 adjusted earnings per share increasing 19% to 23% from a year ago. 

KB Home plunged 4.9% to $26.63 after revenues in the third quarter ending in August rose 26% to $1.84 billion from $1.46 billion a year ago. 

Net income in the quarter rose to $255 million from $150.1 million and diluted earnings per share rose to $2.86 from $1.60 a year ago. 

In the quarter, homes delivered increased 6% to 3,615 and average selling price rose 19% to $508,700. 

The company guided fourth quarter revenues between $1.95 billion and $2.05 billion with average home selling price of $503,000. 

Lennar Corporation rose 2.2% to $77.65 after the home builder said third quarter revenues increased 29% to $8.9 billion from $6.9 billion a year ago. 

In the quarter, net income increased 4% to $1.5 billion from $1.4 billion and diluted earnings per share rose to $5.03 from $4.52 a year ago. 

Homes delivered in the quarter increased 13% to 17,248 and new home orders decreased 12% to 14,366 units and in dollar value decreased 11% to $6.7 billion.

Steelcase Inc fell 8.5% to $8.46 after the company said revenue in the fiscal second quarter 2023 increased 19% to $863.3 million from $724.8 million a year ago. 

In the quarter ending on August 26, 2022, net income declined to $19.6 million from $24.7 million and diluted earnings per share fell to 17 cents from 21 cents a year ago. 

The steel furniture maker forecasted third quarter revenue between $825 million and $850 million, representing organic growth between 13% and 16%. 

The company also announced its plan to cut up to 180 salaried positions and cut annual expense by $20 million after orders through the first three weeks of the third quarter declined approximately 20% from a year ago.