Traders work on the floor of the New York Stock Exchange (NYSE), April 10, 2023.
Brendan McDermid | Reuters
Stock futures ticked downward Tuesday night as traders weighed the latest round of earnings.
Futures tied to the Dow Jones Industrial Average lost 47 points, or 0.1%, while S&P 500 futures slipped 0.1%. Nasdaq 100 futures dropped 0.1%.
The overnight action follows a day of choppy trading. On Tuesday, the S&P 500 ticked higher by 0.09%, while the Dow shed 0.03%, or 10.55 points. The Nasdaq Composite closed slightly lower by 0.04%.
The first earnings season since the collapse of Silicon Valley Bank has occupied most of Wall Street’s attention, with Bank of America and Goldman Sachs among the names reporting quarterly results on Tuesday.
“The market continues to show resiliency amid a sense of relief that the recent banking crisis didn’t lead to a broader systemic failure, which has been reinforced by better-than-expected Q1/23 earnings in the biggest bank,” Canaccord Genuity analyst Tony Dwyer said in a Tuesday note
In tech, streaming giant Netflix disappointed investors after pushing back plans to more strictly clamp down on password sharing. In its latest quarter, the company beat analysts’ expectations on earnings per share, but fell short of estimates on revenue.
Even though earnings are top of mind for investors, macroeconomic headwinds loom ahead, including the Federal Reserve’s rate-hiking path.
Looking ahead, Morgan Stanley will post its latest quarterly results Wednesday morning, while electric vehicle giant Tesla will report after the closing bell. KeyCorp, American Express and AT&T are slated to post results Thursday morning.
Sumber: www.cnbc.com
