U.S. Stocks Set to Extend Pullback as Tech Futures Slide

EarningsCommodityMacro
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Summary · why it matters

U.S. stocks are likely to extend yesterday's pullback in early trading on Friday, with S&P 500 futures down 0.9 percent. Technology stocks are expected to lead the decline, as Nasdaq 100 futures slump 1.9 percent, weighed by an 11.3 percent pre-market drop in Netflix after its third-quarter guidance disappointed. Concerns over valuations ahead of earnings from Alphabet, Amazon, Microsoft, and Meta next week are also pressuring the sector. A sharp rise in crude oil above $80 a barrel amid escalating Middle East tensions is adding to the downward momentum. On the economic front, the Federal Reserve's industrial production report for June and the University of Michigan's preliminary July consumer sentiment index are due.

Impact on stocks 5

Artificial Intelligence▼ · 3 stocks
Amazon.com Inc
AMZN
▼ NegativeMonetaryrelevance

Concerns over valuations ahead of earnings next week are pressuring the sector.

Alphabet Inc Class C
GOOG
▼ NegativeMonetaryrelevance

Concerns over valuations ahead of earnings next week are pressuring the sector.

Microsoft Corporation
MSFT
▼ NegativeMonetaryrelevance

Concerns over valuations ahead of earnings next week are pressuring the sector.

Communication Services▼ · 1 stocks
Netflix Inc
NFLX
▼ NegativeCapitalrelevance

Third-quarter guidance disappointed, causing an 11.3% pre-market drop.

Spatial Computing / AR/VR▼ · 1 stocks
Meta Platforms Inc.
META
▼ NegativeMonetaryrelevance

Concerns over valuations ahead of earnings next week are pressuring the sector.

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