Sentiment is underpinned by hopes the Fed is close to decelerating its pace of rate hikes
U.S. stock futures struggled to make much headway Thursday after Meta became the latest tech giant to disappoint and traders nervously awaited earnings from Apple and Amazon.
After Microsoft MSFT and Alphabet GOOG earnings disappointed on late on Tuesday, Meta’s META attempted transformation to a metaverse platform was not well received by the market. “‘Realization has dawned that the might of big tech is not immune to the slowdown. Hopes that resilience would burn brightly through this U.S. earnings season have dimmed,” said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
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