April 28, 2024

US stock futures slip

Big Tech's AI-focused firms, reliant on software revenue, face scrutiny after Meta's earnings miss. Kathleen Brooks of XTB notes disappointment in AI revenue generation.

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Dow, S&P 500, and Nasdaq e-minis drop by 0.58%, 0.71%, and 1.07% respectively. Amid Middle East tensions and Fed rate cut speculations, focus shifts to Personal Consumption Expenditures index.

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IBM falls 8.6% post-acquisition announcement, Southwest Airlines slashes Boeing delivery estimates, Caterpillar predicts Q2 sales drop, and Royal Caribbean raises profit forecast.

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Tech giants falter, aviation and construction sectors face challenges, while cruise and telecom sectors see gains amidst varied earnings reports and market uncertainties.

Source: Pexels