United States stock futures were little changed on Thursday night (Friday AEDT) after Wall Street retreated, as Walmart's weaker-than-expected earnings forecast dented risk sentiment.
By 10:50 am AEDT (11:50 pm GMT) Dow Jones Industrial Average futures and S&P 500 futures were flat, while Nasdaq-100 futures ticked up 0.1%.
In extended deals, Block slid 6.1% after the company reported fourth-quarter earnings per share of $0.71, below estimates of $0.88. Revenue also disappointed, coming in at US$6.03 billion, below the consensus forecast of $6.29 billion.
Rivian Automotive added 1% following stronger-than-expected revenue of $1.73 billion, surpassing estimates of $1.4 billion.
During Thursday’s trading session, stocks faced broad declines, as the Dow Jones Industrial Average shed 1%, while the Nasdaq Composite and S&P 500 declined 0.4% apiece.
Market sentiment was dented by Walmart’s 6.5% decline, which raised concerns about consumer spending and broader economic growth.
For the week, the S&P 500 remains on track for a modest 0.1% gain, while the Nasdaq Composite is down 0.3%. The Dow has been the worst performer, set for a 0.8% loss over the period.
Investors now turn their attention to upcoming economic data and corporate earnings for further market direction.
