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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

S&P 500 Outlook: Corporate Earnings in Focus as Fed Enters Blackout PeriodS&P 500 continues bullish push as key resistance comes into view. Federal Reserve enters blackout period ahead of next week’s meeting. Mega-cap tech earnings likely to set the tone for risk assets this week.
Source: DailyFX - 🏆 305. / 63 Read more »

Asian Stock Market: Rebounds despite weak S&P500 futures, DXY remains mute, PBOC intervenesAsian Stock Market: Rebounds despite weak S&P500 futures, DXY remains mute, PBOC intervenes – by Sagar_Dua24 Asia Nikkei RiskAppetite PBOC DollarIndex
Source: FXStreetNews - 🏆 14. / 72 Read more »

S&P 500 adds to mid-October rebound from bear market lowThe S&P 500's over 1% surge on Tuesday adds to two weeks of strong gains as investors speculate that third-quarter earnings reports could help pull the market out of its downturn.
Source: Reuters - 🏆 2. / 97 Read more »