U.S. stock futures point to a lower opening on Friday as traders digest a series of pessimistic results from technology heavyweights and await the release of key U.S. labor market data.
At 12:35 (CET), the S&P 500 futures down 36 points or 0.86% and Nasdaq 100 futures, loaded with technology, are left 195 points or 1.52%. The contract of Dow futures It also lost 122 points, or 0.36%.
The deterioration in confidence contrasts in general with the end of the previous day, when the NASDAQ Composite and the S&P 500 rose thanks to a softer discourse on the inflation by the Federal Reserve and the promise of Meta Platforms, owner of Facebook (NASDAQ:GOAL), to contain costs. However, the weakening of health sector values weighs on the Dow Jones Industrial Average.
The focus is on Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN) and Alphabet (NASDAQ:GOOGL), Google’s parent company, and the shares of all three fall after the publication of their latest results.
Apple posted fiscal first-quarter results that fell short of analysts’ expectations, pressured by declining iPhone sales and production problems in China, while fourth-quarter profit and revenue Alphabet They were also weighed down by slowing online ad spending. For its part, Amazon It beat revenue expectations for the fourth quarter, but results from its key cloud business remained slightly below estimates.
“Overall, the initial market reaction to last night’s figures looks disappointing and could lead to some cross-readings at some chipmakers and other sector-related vendors,” said Michael Hewson, chief market analyst at CMC Markets U.K..
“But we must also remember that all three companies have experienced large increases in their share prices so far this year, so perhaps it is time to take a short break for the weekend.”
The attention of the markets will focus this Friday on the reading of the report of Non-agricultural employment of the United States of January. Mixed data earlier this week has indicated some strength in the labor market, fuelling concerns that a solid employment figure could keep inflation high for longer and, in turn, influence the future interest rate path of the economy. EDF.
All indications are that the Department of Labour will publish the figures at 14:30 p.m. (CET). Analysts estimate that companies in the world’s largest economy will have created 185,000 jobs, up from 223,000 in December. The unemployment rate is also expected to rise slightly to 3.6%, up from 3.5% last month.
As for other business news, Nordstrom (NYSE:JWN) soared more than 30% after the Wall Street Journal reported that activist investor Ryan Cohen is building a large stake in high-end retailer Nordstrom. Citing people familiar with the matter, the newspaper said Cohen — famous for his bets on meme stocks such as GameStop Corp — aims to introduce changes to the company’s management and cut costs.
On the other hand, the futures of the U.S. crude down 0.20% to $75.73 per barrel at 12:35 CET, while the Brent It leaves 0.18% to $82.02 per barrel.
In addition, the Gold Futures down 0.17% at $1,927.45 per ounce, while the pair EUR/USD It rose 0.21% to the level of 1.0933.