#usastock index futures fell Thursday, with heavyweight technology #stocks seeing renewed weakness after disappointing second-quarter guidance from #Facebook-owner Meta Platforms (NASDAQ:#META), ahead of the release of key growth data.
At 06:25 ET (10:35 GMT), #DowJones Futures fell 130 points, or 0.3%, S&P 500 Futures fell 27 points, or 0.5%, and #Nasdaq 100 Futures slid 145 points, or 0.8%.
#Meta slumps, drags down tech peers
Meta’s shares slid 15% in aftermarket trade to a near three-month low, after it forecast weaker-than-expected revenue for the second quarter due to higher spending on artificial intelligence.
The guidance largely offset stronger-than-expected first-quarter earnings, and set a dour tone for upcoming earnings from the company’s major technology peers – specifically Microsoft (NASDAQ:#MSFT) and Alphabet (NASDAQ:#GOOGL).
Microsoft and Alphabet are set to report their first-quarter earnings after the bell on Thursday.
#Wall_Street rebound cut short as rate jitters persist
Wall Street indexes recorded a mixed session on Wednesday, as a rebound from near three-month lows was cut short by persistent fears of higher-for-longer interest rates.
The S&P 500 rose marginally, the NASDAQ #Composite finished up 0.1%, while the #DowJones Industrial Average fell 0.1%.
#Wall #Street indexes have started the second quarter in a negative fashion, with losses intensifying last week as signs of hot inflation and hawkish comments from the Federal Reserve saw traders price out most expectations for a June interest rate cut.
Focus this week is on #gross domestic product data, due later in the session, and Friday’s #PCE price index data. Both readings are expected to factor into the outlook for U.S. interest rates.
Treasury yields rose in anticipation of the readings, pressuring stock markets.
#Social_media_stocks follow Meta lower
Social media stocks Snap (NYSE:#SNAP) and Pinterest (NYSE:#PINS) recorded sharp losses in premarket trade, tracking a decline in Meta.
IBM (NYSE:#IBM) slid 9% on weak first-quarter earnings, while the firm also announced a $6.4 billion deal to buy Hashicorp (NASDAQ:#HCP).
On the other hand, Ford (NYSE:F) rose 2.3% on strong first-quarter earnings and positive guidance, and Chipotle Mexican Grill (NYSE:#CMG) added 3% after it beat expectations with its first-quarter earnings.
Crude just higher as crude stockpiles slump
Oil prices edged higher Thursday, rebounding after the previous session’s losses as traders digested the latest U.S. inventories data.
By 06:25 ET, the U.S. crude futures traded 0.1% higher at $82.83 a barrel, while the Brent contract climbed 0.1% to $88.04 a barrel.
Data from the #usaenergy Information Administration on Wednesday showed that gasoline stockpiles fell less than forecast while distillate stockpiles rose against expectations of a decline, reflecting signs of slowing demand.
That said, crude inventories plunged over six million barrels, when a build of around 1.6 million barrels had been expected.
Additionally, gold futures rose 0.1% to $2,337.60/oz, while #EUR/#USD traded 0.2% higher at 1.0722.
.
#everyday_information #forex #option #Binary_Option #trading #trader #goldstocks #forextrader #fx_trade_time #fxttime #USDollar #euro #JPY #GBP #chfcurrency
#dubai #UAENews #ksasaudiarabia #Syrian #iraq #kuwait #jordan #morocco #Libya #tunisia #algerian #Egypt #qatar #lebanon
#كل_يوم_معلومه #فوركس #خيارات_ثنائيه #تداول_عملات #بورصه #ذهب #فوركس_تريد_تايم #اف_اكس_تريد_تايم #دولار #يورو
#دبي #امارات #السعوديه #سوريا #العراق #الكويت #الاردن #المغرب #ليبيا #تونس #الجزائر #مصر #قطر #لبنان
.
www.fxttime.com/trade