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Traders Eye Tech Earnings as US Equity Futures Post Narrow Losses Pre-Bell
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Traders Eye Tech Earnings as US Equity Futures Post Narrow Losses Pre-Bell
Jul 23, 2024 6:23 AM

08:54 AM EDT, 07/23/2024 (MT Newswires) -- US equity futures posted narrow losses pre-bell Tuesday as traders awaited earnings from technology sector majors Alphabet (GOOG, GOOGL) and Tesla (TSLA).

The Dow Jones Industrial Average futures declined 0.1%, S&P 500 futures slipped 0.1% and Nasdaq futures were down 0.3%.

Alphabet and Tesla are scheduled to release quarterly results after the market close.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $81.80 per barrel and US West Texas Intermediate down 0.7% at $77.78 per barrel amid renewed hopes for a ceasefire in Gaza.

Existing home sales, slated for 10 am ET, are expected to drop to a 3.99 million annualized rate in June from a 4.11 million rate in May, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.01% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 1.7% lower. Meanwhile, the UK's FTSE 100 slipped 0.1%, and Germany's DAX index rose 1% in Europe's early afternoon session.

In equities, shares of Danaher Corporation ( DHR ) were 7% higher pre-bell after the company posted Q2 earnings and revenue that topped analysts' estimates. The Coca-Cola Company ( KO ) shares increased 1% after reporting higher Q2 comparable earnings and revenue. Spotify Technology ( SPOT ) shares rose 14% on improved Q2 financial results.

On the losing side, Medpace Holdings ( MEDP ) shares were down 13% after the company reported Q2 revenue that trailed analysts' estimates.

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