Wall Street set for opening losses as Amazon joins tech disappointments
U.S. stock futures were poised for losses on Friday, after Amazon.com Inc. added to a batch of disappointing results from big names in the tech sector.
What’s driving markets? A string of earnings disappointments from Big Tech this has weighed on investors this week, with Amazon.com AMZN, -4.06% joining Microsoft Corp. MSFT, -1.98%, Alphabet Inc. GOOGL, -2.85% and Meta Platforms Inc. META, -24.56% in disappointing the market Apple Inc. AAPL, -3.05% proved a bright spot, after the iPhone maker’s revenue and earnings topped forecasts, helped by record back-to-school sales of Macs. Shares were up nearly 0.9% in premarket trading.
While the tech sector has struggled, Thursday also revealed more upbeat results from Caterpillar Inc. CAT, +7.71% and Honeywell International Inc. HON, +3.27%. Those proved supportive for the Dow industrials, while investors also took some cheer from better-than-expected GDP.
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