The floor of the New York Stock Exchange is occupied by a trader.
The person is Brendan McDermid.
After disappointing third-quarter results from Alphabet, the U.S. stock futures fell on Tuesday.
S&P 500 futures fell by 0.21%. The S&P 500 and the Nasdaq 100 fell.
There was a drop in the shares of the company. The online search giant didn't live up to expectations. The outlook for other tech companies that rely on ad spending was put into question by the decline inYouTube ad revenue.
Sand Hill Global Advisors' Brenda Vingiello said on CNBC's "Closing Bell: Overtime" that there is a slowdown in digital ad spending.
Tech stocks fell on the back of the report. Meta Platforms' shares fell while Amazon's fell.
Despite beating earnings and revenue estimates, Microsoft's cloud revenue fell short of expectations.
The regular session Tuesday saw the Dow Jones Industrial Average rise by 1.1%. The S&P 500 gained 1.6% while the Nasdaq gained 2%. The major averages extended their rally for a third day on the back of those gains.
There will be more Big Tech earnings from Meta after the bell as well as quarterly earnings results from Boeing.
Weekly mortgage applications, wholesale inventories, and new home sales are some of the data they watch for.
In its most recent quarter, Microsoft reported weaker-than- expected cloud revenue, and issued revenue guidance that fell short of expectations. The company's earnings and revenue were better than expected.
The company's Intelligent Cloud business segment generated 20.33 billion in revenue in its most recent quarter, slightly missing the 20.36 billion predicted by analysts.
This year, the stock is down 25%.
After the online search giant reported lackluster third-quarter earnings results, shares of the company dropped.
Tech companies reporting earnings this week that rely on ad spending could be in for a rough ride, as Alphabet missed expectations on the top and bottom lines.
The report led to a decline in other mega-cap tech stocks. Meta Platforms' shares fell in after hours trading. Apple's share dropped.
After disappointing third-quarter results from Alphabet signaled a gloomy start to Big Tech earnings this week, U.S. stock futures fell.
S&P 500 futures fell by 0.21%. The S&P 500 and the Nasdaq 100 futures fell.
The person is Sarah Min.
All Rights Reserved © 2024
