Stock Futures Fall
April 25,2024 08:33 am EST
U.S. stock futures fell Thursday after tech juggernaut Meta Platforms reported quarterly results that disappointed investors.
Futures for the Dow Jones Industrials tumbled 225 points, or 0.6%, to 38,455.
Futures for the broader index sank 35.25 points, or 0.7%, to 5,071.75.
Futures for the NASDAQ Composite slid 190.25 points, or 1.1%, to 17,474.25.
Meta plunged 12% in premarket trading after the social media giant issued light revenue guidance for the second quarter. That would be the stock's biggest one-day decline since October 2022. International Business Machines also fell 8% after missing consensus estimates for first-quarter revenue.
Meta's report raises concern ahead of other big tech releases. Microsoft and Alphabet are slated to post earnings after the close Thursday.
Traders will watch out for the first-quarter reading of the U.S. gross domestic product, due at 8:30 a.m. ET Thursday. Economists polled by Dow Jones expect that real GDP came in at 2.4%. Weekly jobless claims are also due.
In Japan, the Nikkei 225 slid 2.2% Thursday, while in Hong Kong, the Hang Seng gained 0.5%.
Oil prices nicked ahead 40 cents to $83.21 U.S. a barrel.
Gold prices lost 0.1 cents to $2,314.20 U.S. an ounce.
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