U.S. stock rally set to stall after Microsoft and Alphabet earnings disappoint

U.S. stock futures fell on Wednesday after results from tech behemoths Microsoft and Alphabet disappointed investors.

What’s driving markets Stocks were on course to snap a three-day winning streak after poorly-received earnings reports from Microsoft MSFT , Alphabet GOOG and Texas Instruments TXN poured cold water on bulls’ new-found optimism. All three shares were trading at least 6% lower in premarket trading. Ian Williams, analyst at Peel Hunt, agreed. “Most of the earnings news released in the past 24 hours provided reassurance in the face of the economic downturn, and a pullback in yields also helped equity market sentiment yesterday,” he said.

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