United States stock futures traded lower on Thursday evening (Friday AEST) as investors assessed another batch of corporate earnings, with Netflix tumbling in after-hours trading and major indexes on track to post weekly losses.
By 10:25 am AEST (12:25 am GMT), Dow futures and S&P 500 futures fell 0.3% apiece, while Nasdaq-100 futures declined 0.7%.
In extended trading, Netflix dropped 8.9% after its second-quarter results failed to meet investors' lofty expectations.
The streaming giant reported earnings per share of $0.80, narrowly beating estimates of $0.79, while revenue came in at $12.56 billion, slightly below the consensus forecast of $12.58 billion.
Alcoa fell 0.7% despite posting second-quarter results that exceeded expectations. The aluminium producer reported earnings per share of $2.12 on revenue of $3.97 billion, outperforming analyst forecasts on both measures.
Intuitive Surgical slumped 10.5% after releasing its quarterly results. The surgical robotics maker posted earnings per share of $2.80, ahead of estimates of $2.51, while revenue of $2.89 billion also topped expectations of $2.83 billion.
The weaker futures followed a negative session on Wall Street, where semiconductor stocks led the broader market lower.
On Thursday, the Dow Jones Industrial Average slipped 0.2%, the S&P 500 lost 0.5%, and the Nasdaq Composite dropped 1.5%.
The VanEck Semiconductor ETF (SMH) fell nearly 4% as Taiwan Semiconductor Manufacturing Co. declined more than 2% despite reporting a sharp rise in quarterly profit and raising its full-year capital expenditure outlook.
Despite the recent pullback in artificial intelligence-related stocks, particularly chipmakers, the S&P 500 remains around 1% below the record high reached in early June.
