Nasdaq Futures Fall 1% as Amazon, Apple Sap Mood
Tiger Newspress2022-04-29
U.S. equity futures fell Friday after a Wall Street rally fizzled in late trading amid slumps in Amazon.com Inc. and Apple Inc. in the wake of earnings reports.
Contracts on the technology-heavy Nasdaq 100 retreated more than 1%.
Amazon projected sluggish sales growth and Apple flagged supply constraints. The e-commerce giant’s 9% after-hours slide was particularly sharp. The S&P 500 surged more than 2% in the cash session -- its best day since early March.
Currency markets are digesting the yen’s tumble to 20-year lows past 130 per dollar. A greenback gauge extended an advance amid expectations for sharp Federal Reserve interest-rate hikes to slow inflation. Treasuries were largely steady, leaving the 10-year U.S. yield little changed at 2.82%.
In energy markets, oil held a jump to about $105 a barrel, as traders evaluated the prospect of a European Union ban on Russian crude imports in retaliation for the invasion of Ukraine.
Corporate earnings are injecting yet more market swings into an already volatile year. There are concerns that tightening U.S. monetary policy.
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