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Oleksandr Pylypenko

Stock Index Futures Drop as Investors Weigh Powell’s Remarks, Geopolitical Risks

Jerome Powell Dow Middle East US Federal Reserve United Kingdom United States AXP

December S&P 500 futures (ESZ23) are down -0.25%, and December Nasdaq 100 E-Mini futures (NQZ23) are down -0.32% this morning as investors digested Federal Reserve Chair Jerome Powell’s remarks while heightened geopolitical risks stemming from the Middle East continued to weigh on sentiment.

In Thursday’s trading session, the benchmark S&P 500, blue-chip Dow, and tech-heavy Nasdaq 100 posted 1-1/2 week lows. Tesla Inc (TSLA) slumped over -9% after the Austin-based company posted weaker-than-expected Q3 results. In addition, Genuine Parts Co (GPC) tumbled more than -12% after reporting weaker-than-expected Q3 net sales. On the bullish side, Netflix Inc (NFLX) soared over +16% after the company reported stronger-than-expected Q3 EPS, posted its best subscriber growth in years, and confirmed it would start raising prices. Also, AT&T Inc (T) climbed more than +6% after the telecom giant raised its full-year free cash flow guidance. 

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