2023-01-25 13:46:20

U.S. Stocks May Come Under Pressure On Disappointing Earnings News

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By Rtt News Staff Writer

Following the mixed performance seen in the previous session, stocks may come under pressure in early trading on Wednesday. The major index futures are currently pointing to a notably lower open for the markets, with the S&P 500 futures down by 1.0 percent.

The downward momentum on Wall Street largely reflects a negative reaction to earnings news from some big-name companies.

Shares of Microsoft (MSFT) are tumbling by 3.0 percent in pre-market trading after the software giant reported its fiscal second quarter results.

Microsoft reported second quarter earnings that exceeded analyst estimates but provided disappointing revenue guidance for the current quarter.

Aerospace giant Boeing (BA) is also seeing pre-market weakness after reporting an unexpected fourth quarter loss on weaker than expected revenues.

On the other hand, shares of AT&T (T) are likely to see initial strength after the telecom giant reported better than expected fourth quarter earnings.

Continue read on rttnews.com

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