The futures of the 100 index fell Thursday evening after disappointing earnings from Apple and Amazon.
The tech-heavy index's futures fell 1.5%, while the S&P 500 futures retreated by 0.8%.
The moves are a reversal of the stock's gains in regular trading. The S&P 500 advanced 2.5% and the Dow rose 614 points. The tech-laden index rose 3.1%.
Amazon's shares fell by about 10% in extended trading after the company reported a surprise loss and issued weak revenue guidance for the second quarter.
After a big earnings beat, Apple initially got a lift, but turned lower after CFO Luca Maestri said supply chain constraints could affect revenue. After hours, shares were down more than 3%.
Despite Thursday's gains, stocks have a long way to go to finish the month green. The S&P 500 is down 5.4% for the month, while the DOW is off by 2%. The index is on pace for its worst month since March 2020. The last trading day of the month will be Friday.
This week has been one of the busiest for earnings season and a particularly intense one for tech companies, which have driven investor sentiment throughout the week.
Thursday evening, Intel reported earnings. The company issued weak guidance for its fiscal second quarter and the stock fell more than 3% in extended trading. The company reported a wider-than- expected loss, as well as a decrease in monthly active users.
The Federal Reserve's monetary tightening and slowing global growth are concerns for investors.
The Commerce Department reported on Thursday that the U.S. gross domestic product declined in the first quarter by 1.4% from the previous year.
On Friday, investors will be looking for fresh data on PCE. The primary inflation gauge is the Core PCE. The consumer sentiment index from the University of Michigan is due out at 10 am.
Friday will be the quietest day of the week. The companies are on deck before the bell. The energy companies will report.
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