December S&P 500 futures (ESZ23) are down -0.50%, and December Nasdaq 100 E-Mini futures (NQZ23) are down -0.87% this morning as disappointing earnings reports and elevated Treasury yields weighed on sentiment while investors geared up for a flurry of U.S. economic data and more corporate earnings results.
Meta Platforms (META) fell over -2% in pre-market trading after the company reported better-than-expected Q3 results but warned that its advertising business depends heavily on the macroeconomic environment for spending. “We are very subject to volatility in the macro landscape. The revenue outlook is uncertain for 2024,” Chief Financial Officer Susan Li said on a call with investors. Also, Alphabet Inc (GOOGL) slid more than -2% in pre-market trading, extending yesterday’s drop on disappointing cloud figures.
