U.S. Stock Futures Tick Higher Following Meta Slump

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U.S. Stock Futures Tick Higher Following Meta Slump
Credit: © Reuters.

By Oliver Gray 

Investing.com - U.S. stock futures were trading higher in early APAC deals on Tuesday, after major benchmark averages posted a mixed session as cautious investors continued to retreat from heavyweight tech companies ahead of key inflation data due later in the week.

During Monday’s regular session, the Dow Jones Industrial Average added 1.39 points to 35,091.13, the S&P 500 lost 16.66 points or 0.37% to 4483.88 and the tech-heavy Nasdaq Composite fell 82.34 points or 0.58% to 14,015.67.

Dow Jones Futures added 0.1%, S&P 500 Futures gained 0.19% and Nasdaq 100 Futures lifted 0.33%.

Among stocks, Facebook-parent Meta Platforms Inc (NASDAQ: FB ) fell 5.14% following earnings last week, Block Inc (NYSE: SQ ) lost 5.57%, Microsoft Corporation (NASDAQ: MSFT ) dipped 1.63%, Apple Inc (NASDAQ: AAPL ) lost 0.42%, Netflix Inc (NASDAQ: NFLX ) lost 1.97% and Alphabet Inc (NASDAQ: GOOGL ) fell 2.86%.

EV makers retreated with Tesla Inc (NASDAQ: TSLA ) down 1.73%, Rivian Automotive Inc (NASDAQ: RIVN ) falling 4.12% and Lucid Group Inc (NASDAQ: LCID ) down 2.11%.

Meantime, Tyson Foods Inc (NYSE: TSN ) gained 12.23% after beating earnings expectations, while medical device maker Zimmer Biomet Holdings Inc (NYSE: ZBH ) fell 9.09% after its report .

Peloton Interactive Inc (NASDAQ: PTON ) also surged 20.93% on reports that Amazon.com Inc (NASDAQ: AMZN ) and Nike Inc (NYSE: NKE ) are lining up as possible suitors for the interactive fitness equipment maker.

In extended deals, Take-Two Interactive Software Inc (NASDAQ: TTWO ) dipped 2.51% following the company’s third-quarter results , reporting revenues of $866 million for the quarter vs $875 million expected.

Chegg Inc (NYSE: CHGG ) also popped 8.25% after hours, as the company’s fourth-quarter results topped analysts’ expectations. EPS came in at 38 cents vs 34 cents expected, while revenue was reported at $207 million vs $195 million expected.

On the bond markets, United States 10-Year yields were steady at 25-month highs of 1.918%.

Ahead in the week, investors will be closely monitoring consumer price index data for January. Analysts are expecting that inflation rose at a 7.2% pace from a year ago, the fastest gain since February 1982.

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