wall street

#usastock index futures fell Thursday, with heavyweight technology #stocks seeing renewed weakness after disappointing second-quarter guidance from #Facebook-owner Meta Platforms (NASDAQ:#META), ahead of the release of key growth data.

At 06:25 ET (10:35 GMT), #DowJones Futures fell 130 points, or 0.3%, S&P 500 Futures fell 27 points, or 0.5%, and #Nasdaq 100 Futures slid 145 points, or 0.8%. 

#Meta slumps, drags down tech peers 

Meta’s shares slid 15% in aftermarket trade to a near three-month low, after it forecast weaker-than-expected revenue for the second quarter due to higher spending on artificial intelligence. 

The guidance largely offset stronger-than-expected first-quarter earnings, and set a dour tone for upcoming earnings from the company’s major technology peers – specifically Microsoft (NASDAQ:#MSFT) and Alphabet (NASDAQ:#GOOGL). 

Microsoft and Alphabet are set to report their first-quarter earnings after the bell on Thursday. 

#Wall_Street rebound cut short as rate jitters persist 

Wall Street indexes recorded a mixed session on Wednesday, as a rebound from near three-month lows was cut short by persistent fears of higher-for-longer interest rates.

The S&P 500 rose marginally, the NASDAQ #Composite finished up 0.1%, while the #DowJones Industrial Average fell 0.1%. 

#Wall #Street indexes have started the second quarter in a negative fashion, with losses intensifying last week as signs of hot inflation and hawkish comments from the Federal Reserve saw traders price out most expectations for a June interest rate cut. 

Focus this week is on #gross domestic product data, due later in the session, and Friday’s #PCE price index data. Both readings are expected to factor into the outlook for U.S. interest rates. 

Treasury yields rose in anticipation of the readings, pressuring stock markets.

#Social_media_stocks follow Meta lower 

Social media stocks Snap (NYSE:#SNAP) and Pinterest (NYSE:#PINS) recorded sharp losses in premarket trade, tracking a decline in Meta. 

IBM (NYSE:#IBM) slid 9% on weak first-quarter earnings, while the firm also announced a $6.4 billion deal to buy Hashicorp (NASDAQ:#HCP). 

On the other hand, Ford (NYSE:F) rose 2.3% on strong first-quarter earnings and positive guidance, and Chipotle Mexican Grill (NYSE:#CMG) added 3% after it beat expectations with its first-quarter earnings. 

Crude just higher as crude stockpiles slump 

Oil prices edged higher Thursday, rebounding after the previous session’s losses as traders digested the latest U.S. inventories data.

By 06:25 ET, the U.S. crude futures traded 0.1% higher at $82.83 a barrel, while the Brent contract climbed 0.1% to $88.04 a barrel.

Data from the #usaenergy Information Administration on Wednesday showed that gasoline stockpiles fell less than forecast while distillate stockpiles rose against expectations of a decline, reflecting signs of slowing demand. 

That said, crude inventories plunged over six million barrels, when a build of around 1.6 million barrels had been expected.

Additionally, gold futures rose 0.1% to $2,337.60/oz, while #EUR/#USD traded 0.2% higher at 1.0722.

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