Stock market today: US futures tumble after Meta's reality check, soft GDP print

Techs led a retreat in US stocks on Thursday as Meta's revenue forecast rattled investors eyeing the next high-stakes megacap earnings. Meanwhile, a sharply lower-than-expected reading on US GDP for the first quarter ratcheted up questions about the health of the US economy in the face of persistently high interest rates. Nasdaq 100 futures fell 1.4% on the heels of a go-nowhere day for the major Wall Street gauges.

Concerns grew about how long it will take for that spending to feed into revenue, pulling down tech stocks more broadly. That miss put a dent in hopes that results from the "Magnificent Seven" might juice a comeback in stocks, whose rally has lost momentum recently. It's also a reality check for Microsoft and Alphabet , also burdened with high earnings growth and AI expectations, when they report after the bell Thursday. Meanwhile, US GDP growth came in at a 1.

United States United States Latest News, United States United States Headlines

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

Stock market today: US futures tumble after Meta's reality check, with GDP on deckMeta's AI reality check has dented hopes for a Big Tech revival for stocks, with a GDP update waiting in the wings.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news: U.S. stock rally wavers as bonds struggle before GDPStocks struggled to gain much traction, with Wall Street traders gearing up for economic data that will help shape the views on the Federal Reserve’s next steps.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market news: U.S. stock rally stalls as bond yields rise before GDPWall Street traders sent both stocks and bonds down ahead of economic data that will help shape the views on the Federal Reserve’s next steps.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Tesla surges after earnings, stocks cling to gains ahead of Meta's reportTesla's surge is putting Big Tech earnings center stage as investors look to megacaps to lift stocks.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news: tech giants hit in late hours after Meta's outlookBig tech sold off in late hours after Meta Platforms Inc.’s disappointing outlook raised concern on whether the artificial-intelligence euphoria that has powered the bull market has run too far.
Source: BNNBloomberg - 🏆 83. / 50 Read more »