Major United States stock futures were mixed on Tuesday evening (Wednesday AEST), as traders prepared for a heavy slate of economic data to close out a volatile month.
By 9:20 am AEST (11:20 pm GMT), Dow Jones Industrial Average futures remained flat while S&P 500 futures and Nasdaq 100 futures dropped 0.3% and 0.4%, respectively.
In after-hours trading, Seagate Technology surged 9% after results came in ahead of expectations. Earnings per share (EPS) was reported at $1.90 versus $1.74 expected, while revenues came in at US$2.16 billion versus $2.12 billion expected.
Snap plunged 14% after it withdrew its financial guidance due to economic uncertainty.
Super Micro Computer sank 15.3% after preliminary results came in lower than expected.
During the regular session, all three major benchmarks posted gains. The Dow rose 0.8%, the S&P 500 advanced 0.6%, and the Nasdaq Composite also increased 0.6%.
The S&P 500, which briefly entered bear market territory on 7 April, is now down just 0.9% for the month. The Dow remains on track for a 3.5% monthly loss, while the Nasdaq is poised to finish April up 0.9%.
Investors are now looking to key economic reports for direction. The personal consumption expenditures (PCE) price index for March and the first reading of first-quarter GDP are both scheduled for release on Wednesday (Thursday AEST).
These figures come as signs of consumer weakness mount. The Conference Board’s Consumer Confidence Index fell to 86 in April, below 87.5 expected, as consumers’ expectations for the future fell to a 13-year low.
Job market data also disappointed, with U.S. job openings falling slightly to fresh four-year lows of 7.19 million in March.
Looking ahead, investors will closely watch earnings from companies including Microsoft and Meta Platforms, as well as Automatic Data Processing's (ADP) employment change and gross domestic product (GDP) data.
