Stock futures were mixed on Tuesday night after the major averages continued their April sell-off amid concerns of an economic slowdown, and Wall Street considered earnings that came in after the bell.
S&P 500 futures rose 65 points, or 0.21%. S&P 500 futures were not moved. The futures of the index declined.
Tech stocks continued to decline after hours. After the company reported earnings, the stock price dropped more than 4%. Meta Platform is reporting earnings on Wednesday.
After the retail brokerage said it is cutting back on staff, shares of Robinhood dropped more than 5% in extended trading. The company cited duplicate roles and job functions after its rapid expansion last year.
The tech-laden index dropped further into bear market territory, hitting a new 52 week low. The index is now 23% off its high. The average price of a share was down by 2.4%. The S&P 500 lost ground.
In April, the S&P 500 is down 7.8%, the Nasdaq is down 12.2%, and the DOW is down 4.2%.
Fears of a global economic slowdown prompted investors to dump tech stocks.
Art Hogan, chief market strategist at National Securities, said that the market is concerned about two things.
Apple and Amazon are expected to report earnings on Thursday. T-Mobile, Boeing, PayPal and Ford are all reporting on Wednesday.
On the economic front, investors will be watching for the latest data on weekly mortgage applications, international trade and pending home sales.
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