Tech Giants' Earnings Shake Stock Market: Google and Meta Tumble, Microsoft Impresses

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Source: Investor's Business Daily
Tech Giants' Earnings Shake Stock Market: Google and Meta Tumble, Microsoft Impresses
Photo: Investor's Business Daily
TL;DR Summary

Dow Jones futures fell overnight as tech giants Meta Platforms and ServiceNow disappointed with their earnings reports, while Amazon is set to report its earnings on Thursday night. The stock market suffered losses, with the S&P 500 and Nasdaq falling below recent lows. The 10-year Treasury yield rose, and most tech stocks followed Google's plunge, dragging down Meta stock, software plays, and Amazon. Ford Motor reached a tentative labor deal with UAW negotiators, ending the strike that began on September 14. Several key economic reports, including GDP growth and durable goods orders, are expected to be released. Investors are advised to be cautious and wait for signs of a market uptrend.

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