financetom
World
financetom
/
World
/
Traders Turn Risk-Averse After Meta Platforms Earnings, Fueling Losses for US Equity Futures Pre-Bell
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Traders Turn Risk-Averse After Meta Platforms Earnings, Fueling Losses for US Equity Futures Pre-Bell
Apr 25, 2024 6:24 AM

09:01 AM EDT, 04/25/2024 (MT Newswires) -- US equity futures were in red territory before Thursday's opening bell as quarterly results from technology sector heavyweight Meta Platforms ( META ) weighed on investor sentiment.

Dow Jones Industrial Average futures fell 0.9%, S&P 500 futures dropped 1%, and Nasdaq futures were down 1.3%.

Late Wednesday, Meta Platforms ( META ) reported Q1 earnings and revenue that topped analysts' estimates but raised its total spending guidance for 2024.

Oil prices gained, with front-month global benchmark North Sea Brent crude and US West Texas Intermediate crude both up around 0.2%, after official data showed a 6.4 million-barrel weekly decline in US crude stockpiles.

Q1 gross domestic product growth, released at 8:30 am ET, slowed to a 1.6% annualized rate versus Q4 growth of 3.4% and estimates for a 2.5% increase.

International trade in goods deficit, also released at 8:30 am ET, widened to $91.8 billion in March from $90.3 billion previously, compared with estimates for a $91 billion gap. New unemployment claims came in at 207,000 in the week ended April 20 compared with the 212,000 claims in the preceding week and estimates for 215,000.

Forecasters see the Pending Home Sales Index, slated for 10 am, rising by 0.3% in March after February's 1.6% increase.

In other world markets, Japan's Nikkei closed 2.2% lower, Hong Kong's Hang Seng ended 0.5% higher, and China's Shanghai Composite finished 0.3% higher. Meanwhile, UK's FTSE 100 rose 0.5%, and Germany's DAX index fell 0.8% in Europe's early afternoon session.

In equities, shares of Meta Platforms ( META ) were down more than 15% pre-bell. IBM ( IBM ) shares fell more than 9% after the company agreed to buy HashiCorp in a $6.4 billion deal. Caterpillar ( CAT ) shares retreated nearly 7% after posting lower Q1 revenue.

On the winning side, Honeywell ( HON ) shares rose more than 1% after the company posted higher Q1 adjusted profit and revenue. Teradyne ( TER ) shares increased 5% after posting Q1 results that topped analysts' estimates.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
GLOBAL MARKETS-Wall St drops, Treasury yields rise on mixed jobs report, renewed tariff threats
GLOBAL MARKETS-Wall St drops, Treasury yields rise on mixed jobs report, renewed tariff threats
Feb 7, 2025
(Updates to mid-afternoon) * Consumer data shows jump in inflation expectations * Nonfarm payrolls rose 143,000 in January vs 307,000 in December * Trump will announce new reciprocal tariffs next week By Stephen Culp NEW YORK, Feb 7 (Reuters) - Wall Street turned sharply lower and benchmark Treasury yields jumped on Friday in the wake of a mixed payrolls report,...
Euro area yields head for second straight weekly fall on tariff concerns
Euro area yields head for second straight weekly fall on tariff concerns
Feb 7, 2025
* German yields drop on tariff worries * ECB could lower rates to boost growth * Some analysts expect Fed will not ease policy this year (Recasts after Reuters report on U.S. tariffs) By Stefano Rebaudo Feb 7 (Reuters) - Euro zone government bond yields recorded their second straight weekly fall over concerns that potential U.S. tariffs could deliver a...
GLOBAL MARKETS-Wall St drops, Treasuries rise on mixed jobs report, renewed tariff threat
GLOBAL MARKETS-Wall St drops, Treasuries rise on mixed jobs report, renewed tariff threat
Feb 7, 2025
(Updates to mid-day) * Consumer data shows jump in inflation expectations * Nonfarm payrolls rose 143,000 in January vs 307,000 in December * New tariff announcements expected as soon as Friday: Reuters exclusive By Stephen Culp NEW YORK, Feb 7 (Reuters) - Wall Street turned sharply lower and benchmark Treasury yields jumped on Friday in the wake of a mixed...
TSX Closer: Down More Than 90 Pts As Potential Tariffs War Weighs On Sentiment, Even As Some See Glitter In Gold
TSX Closer: Down More Than 90 Pts As Potential Tariffs War Weighs On Sentiment, Even As Some See Glitter In Gold
Feb 7, 2025
04:14 PM EST, 02/07/2025 (MT Newswires) -- Canada's main exchange, the Toronto Stock Exchange, closed down 91.6 points at 25,442.91 on Friday as growing fears around a potential global tariffs war, and concern about a deteriorating economic relationship between Canada and United States, weighed on market sentiment, even if some still see glitter in gold. In a latest update on...
Copyright 2023-2025 - www.financetom.com All Rights Reserved