U.S. stock futures point to opening losses, notably for tech, after two major companies in the space — Amazon and Apple — disappointed with results....
U.S. stock futures were lower on Friday, with technology poised for a sharp selloff, as investors reacted to disappointing results from heavyweights Amazon.com Inc. and Apple Inc.
What’s driving the market? The S&P 500 and Nasdaq closed at records on Thursday, lifted by earnings news and hopes for a budget deal as investors shook off a disappointing third-quarter growth report. “Companies will feel the heat going forward with all input costs rising from wages, financing, and commodities including energy,” said Steen Jakobsen, chief investment officer at Saxo Bank, in a note to clients.
Rising bond yields were also a focus for investors, with the yield on the 10-year Treasury note TMUBMUSD10Y, 1.612% up 4 basis points to 1.600%. That follows the biggest one-day yield gain since Oct. 19 on Thursday, which snapped a four-day losing streak.
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