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Futures tied to the S&P 500 were flat Tuesday night as traders awaited quarterly results for four of the Magnificent Seven stocks and the conclusion of what could be Jerome Powell’s last policy meeting as Federal Reserve chairman.
S&P500 futures I added 0.1%, Nasdaq 100 futures It rose by 0.2%. Futures linked to the Dow Jones Industrial Average Advance by 63 points (0.1%).
Includes the largest after-hours removal companies starbuckswhich rose 5% after raising its full-year forecast. shares of robin hood Shares fell 9% after first-quarter results fell short of expectations. both seagate technology and NXP Semiconductors The company rose about 16% after the company posted a higher profit and shared a positive earnings outlook.
At Tuesday’s regular meeting, S&P500 and Nasdaq Composite Both were withdrawn from the record. The overall market index fell 0.49%, and the tech-heavy Nasdaq fell 0.9%. Excellent company Dow Lost 25.86 points (0.05%).
Losses in the technology sector sent shares lower after the Wall Street Journal reported that OpenAI recently missed its own revenue and user growth goals. tech giant oracleThe chip giant, which is in a $300 billion, five-year partnership to supply computing power to OpenAI, fell 4%. broadcom and Nvidia They fell more than 4% and 1%, respectively.
Four of the “Magnificent Seven” tech giants are scheduled to report earnings after the closing bell on Wednesday. alphabet, Amazon, meta platform and microsoft. Investors expect these companies to show a return on capital invested in artificial intelligence.
“The last time we reported, these four companies alone increased their full-year capital spending by $94 billion. Let’s see what happens tomorrow,” Stephen Wieting, chief investment strategist at CIO Group, said on CNBC’s “Closing Bell: Overtime” Tuesday afternoon.
Wednesday will also conclude the Fed’s April policy meeting, which will likely be Fed Chairman Jerome Powell’s last meeting before his term ends in May. Powell’s successor, Kevin Warsh, appears on track to take the helm of the central bank. The market does not expect the Fed to adjust the current federal funds rate.
