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Dow Futures Trade Lower As Tech Earnings Disappoint, Apple Sheds 2.8%
Economy

Dow Futures Trade Lower As Tech Earnings Disappoint, Apple Sheds 2.8%

Feb 3, 2023

U.S. stock futures were trading lower during Thursday’s evening deals, after major benchmark averages finished mixed as investors grew cautious after a slew of mixed earnings reports. By 6:35pm ET (11:40pm GMT) Dow Jones Futures were down 0.2%, S&P 500 Futures fell 0.6% and Nasdaq 100 Futures were down 1.2%. In extended deals, Apple (NASDAQ:AAPL) shed 2.1% after the company reported Q1 EPS at $1.88 versus $1.94 expected, while revenues came in at $117.12 billion versus $121.88 billion expected. Amazon (NASDAQ:AMZN) fell 4.2% after reporting EPS of $0.03 versus $0.17 expected on revenues of $149.2 billion versus $145.64 billion expected. Alphabet (NASDAQ:GOOGL) shed 3.7% after reporting EPS of $1.88 versus $1.94 expected on revenues of $76.05 billion versus $76.07 billion expected. Qualcomm (NASDAQ:QCOM) fell 2.5% after reported EPS of $2.37 versus $2.36 expected, on revenues of $9.46 billion versus $9.6 billion expected.

Dow Futures

Starbucks (NASDAQ:SBUX) lost 2.2% After The Company Reported.

EPS of $0.75 versus $0.77 expected on revenues of $8.7 billion versus $8.78 billion expected. Atlassian Corp Plc (NASDAQ:TEAM) shed 13.4% after the company reported EPS of $0.45 versus $0.43 expected, on revenues of $872.7 million compared to analysts’ estimates of $877.18 million. Ahead in Friday’s session, market participants will be closely monitoring average hourly earnings, nonfarm payrolls and unemployment rate data as well as the ISM services PMI. On the earnings front, companies including Sanofi (EPA:SASY) ADR (NASDAQ:SNY), Cigna Corp (NYSE:CI) and Honda Motor Co Ltd ADR (NYSE:HMC) are set to report earnings results. During Thursday’s regular trade, the Dow Jones Industrial Average fell 39 points or 0.1% to 34,054, the S&P 500 lifted 60.6 points or 1.5% to 4,179.8 and the NASDAQ Composite gained 384.5 points or 3.3% to 12,200.8.

On the bond markets, United States 10-Year rates were at 3.402%.

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