As traders scrutinized the most recent round of company earnings, stock futures declined during the opening hours of trading on Wednesday.
The Dow Jones Industrial Average futures fell 226 points, or 0.7%, in the futures market. S&P 500 futures dropped 0.8%, while Nasdaq-100 futures lost 1.2%.
Microsoft’s stock fell 2%. Initially, shares increased when the IT giant reported per-share earnings for the fiscal second quarter that beat analysts’ expectations. However, after the company provided mediocre forecast on its earnings call, shares fell.
In anticipation of increased high-profile corporate results, investors are preparing for a possible recession. According to Refinitiv, more than 70 S&P 500 businesses have so far reported fourth-quarter profits, and 65% of them had results that were greater than anticipated.
“With the majority of earnings still awaiting market acceptance, the question is.
Source (CNBC)
