HomeFinancial MarketsNasdaq Futures Plunge 1% Following Disappointing Earnings

Nasdaq Futures Plunge 1% Following Disappointing Earnings

Futures listed on the tech-heavy Nasdaq Composite index fell by about 1% during early trading on Thursday following a wave of weaker-than-expected company earnings. Meta Inc. stocks fell by 4% during pre-market trading after the company admitted that it’s facing an uncertain economic environment, Google’s parent Alphabet Inc. declined by 2.3% after it disappointed with its cloud business figures. Amazon.com slid 1.5%, with the company still due to report its earnings later in the day.

Paul de La Baume, an investment advisor at BNP Paribas Suisse SA, commented that traders are “opting to sell first in fear that sentiment will get worse before it gets better.” A slew of disappointing corporate earnings has prompted investors to reevaluate their valuations which appear to be higher than they should be.

With Treasury yields on the rise and the dollar continuing to strengthen, observers now await US initial jobless claims and GDP numbers that are set to be released later in the day. These metrics are expected to provide a clearer picture of the current economic landscape.

Chipotle Misses on Revenue and Same-Store Sales, Stock Slides

Fast casual restaurant chain Chipotle reported weaker-than-expected earnings for the first quarter of 2025. The company's revenue and same-store sales missed the estimates of...

Tesla Delays the Launch of U.S.-Made Affordable EV

Electric vehicle maker Tesla is delaying the launch of its U.S.-made affordable car for at least several months according to a newest report by...

Netflix’s Resilience Praised by Wall Street Analysts After Strong Q1 Earnings

Streaming giant Netflix continues to be championed by Wall Street analysts, who view the company as “resilient” in a tough economic environment after strong...