Friday’s stock futures decline occurred as investors assessed a series of largely unsatisfactory quarterly reports, one of which precipitously knocked chipmaker Intel lower.
Trading futures for the tech-heavy Nasdaq-100 dropped 0.6%. Dow Jones Industrial Average futures fell 68 points, or 0.2%, while S&P 500 futures fell 0.2%.
After the chip maker released unsatisfactory fiscal first-quarter expectations, Intel saw an 11% decline in premarket trading. Following the company’s release of low revenue and earnings per share projections for its fiscal third quarter, semiconductor stock KLA Corp fell more than 5%. Shares of Visa fell 3% on the credit card company’s announcement that U.S. traffic is decreasing.
On Friday, businesses like American Express, Colgate-Palmolive, and Norfolk Southern will release their earnings.
The S&P 500 jumped to a new all-time high during Wall Street’s recent victorious session. The Nasdaq Composite and the broad market index both saw advances for the sixth day in a row, overcoming a notable negative impact from Tesla shares, which fell more than 12%. The Nasdaq increased by 0.2%, the S&P 500 gained 0.5%, and the Dow gained 0.6%.
Source (CNBC)
