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Barchart
Barchart
Oleksandr Pylypenko

Nasdaq Futures Tumble on Weak U.S. Tech Earnings and Growth Fears, Jobs Report in Focus

September Nasdaq 100 E-Mini futures (NQU24) are trending down -1.81% this morning as fears of a U.S. slowdown and disappointing quarterly results from industry heavyweights such as Intel and Amazon weighed on sentiment, with the focus now shifting to the highly anticipated U.S. payrolls reading due later in the day.

Amazon (AMZN) slumped over -9% in pre-market trading after the e-commerce and cloud giant reported weaker-than-expected Q2 revenue and issued disappointing Q3 guidance. Also, Intel (INTC) plummeted more than -21% in pre-market trading after the semiconductor giant reported downbeat Q2 results, provided below-consensus Q3 guidance, and said it would cut over 15% of its workforce as well as suspend its dividend starting in the fourth quarter.

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