Stock market news today: Nasdaq, S&P 500 futures fall as Alphabet casts cloud

Nasdaq and S&P 500 futures fell on Wednesday as investors gave a mixed welcome to earnings reports from Microsoft and Alphabet, with more quarterly results set to flow in.Other megacaps lost ground as the mixed picture sapped some faith in big techs, which have powered gains in stocks this year. Amazon joining Meta on Wednesday's line-up.

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An "extremely bearish" technical pattern, known as a double top, has taken shape on the Magnificent 7 stocks' combined price chart, fueling fears of a selloff. Home buyers are backing out of deals at the highest rate in a year as surging mortgage rates slam the housing market

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