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Tech Giants Weigh On US Futures: Treasuries Gain: Market Wrap

Contracts on the Nasdaq 100 fell more than 1% after disappointing quarterly updates from Microsoft Corp., Google parent Alphabet Inc. and Texas Instruments Inc. S&P 500 futures were down about 0.5%. Treasuries extended gains, with the 10-year yield falling to around 4.04%, and a gauge of the dollar declined for a second day to its lowest level in three weeks.

Stocks have been buoyed in recent days by mostly solid earnings and speculation the Federal Reserve may curb the pace of rate increases amid evidence its aggressive tightening is starting to weigh on the economy. About a quarter of S&P 500 companies have reported third-quarter results, with more than two-thirds beating analysts’ estimates despite the big-tech setback. But concern is mounting that slowing output will dent corporate profits in coming months.

“Yes we’re seeing earnings beats at the moment,” Mike Ingram, a senior market strategist at ActivTrades, said on Bloomberg TV. “But where I do start to have a bit of a problem at this juncture is that some earnings expectations going into next year are
still looking a bit punchy."

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https://finance.yahoo.com/news/asia-stocks-set-rise-us-224330376.html