Stock futures are flat ahead of major bank earnings

U.S. stock index were little changed during overnight trading on Thursday, ahead of earnings from the major banks on Friday.

The Nasdaq Composite was the relative underperformer, shedding 2.51% and snapping a three-day winning streak as technology stocks came under pressure. Microsoft declined more than 4%, while Nvidia dipped 5%. Apple, Amazon, Meta, Netflix and Alphabet also closed lower. "Big Tech stocks are selling off so dramatically as a product of, 'yes US rates are likely to go up further this year,' but also as investors rotate into value and cyclical trades," said Ed Moya, senior market analyst at Oanda. "Wall Street is trying to get a sense of how much growth is going to slow and the banks will start providing some insight on Friday," he added.

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Source: WSJ - 🏆 98. / 63 Read more »