Dow futures slip as Microsoft, Alphabet report earnings

U.S. stock futures saw little movement during Tuesday’s evening deals, following a bullish session for key benchmark indices as investors prepared for more earnings reports from significant tech companies. By 7:40 p.m. ET (11:40 p.m. GMT), the Dow Jones Futures had decreased by 0.1%, the S&P 500 Futures had barely changed, and the Nasdaq 100 …

U.S. stock futures saw little movement during Tuesday’s evening deals, following a bullish session for key benchmark indices as investors prepared for more earnings reports from significant tech companies. By 7:40 p.m. ET (11:40 p.m. GMT), the Dow Jones Futures had decreased by 0.1%, the S&P 500 Futures had barely changed, and the Nasdaq 100 Futures had down by 0.2%. Microsoft (NASDAQ: MSFT), one of the larger reporting corporations, saw a 3.9% decline after reporting Q4 EPS of $2.69 versus $2.55 projected and revenues of $56.2 billion versus $55.44 billion. Following the release of its Q2 earnings of $1.44 per share versus $1.34 and revenue of $74.6 billion versus $72.82 billion forecast, Alphabet (NASDAQ: GOOGL) saw a 6.5% increase. Snap (NYSE: SNAP) plunged 18.8% after posting Q2 losses of $0.02 per share compared to expected losses of $0.25 per share. As opposed to the $1.05 billion forecast, revenue was recorded at $1.07 billion.

Texas Instruments (NASDAQ: TXN) experienced a 4% decline after reporting Q2 earnings per share of $1.87 versus $1.76 projected and revenue of $4.53 billion versus $4.37 billion. Ahead in Wednesday’s trade, market participants are preparing for a second rate increase of 25 basis points by U.S. Federal Reserve policymakers, as well as a new round of earnings reports from companies like Meta Platforms Inc (NASDAQ: META), Coca-Cola Co (NYSE: KO), Mattel Inc (NASDAQ: MAT) and Boeing Co (NYSE:BA). The S&P 500 increased 12.8 points or 0.3% to 4,567.5 during Tuesday’s session, and the NASDAQ Composite increased 85.7 points or 0.6% to 14,144.6. The Dow Jones Industrial Average increased 26.8 points or 0.1% to 35,438.1 over the same period. According to the report, CB consumer confidence was higher than expected, at 117 as opposed to 111.8.

 

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