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Stock futures fall ahead of big tech earnings: Stock exchange news today




US stock futures were lower on Tuesday as technology conglomerates were set to mark a busy earnings week.

S&P 500 futures (^GSPC) fell 0.44%, while the Dow Jones Industrial Average (^DJI) was down 0.27%. Futures linked to the tech-heavy Nasdaq Composite (^IXIC) fell 0.38%.

Bond yields fell. The yield on the 10-year note fell to 3.44%, while interest-sensitive two-year note yields also fell to 4.05% on Tuesday morning.

Wall Street is focused on performance from big tech, especially given the sector’s outsized influence on broader market gains so far this year. Alphabet ( GOOGL ) and Microsoft ( MSFT ) are scheduled to report after hours. Alphabet shares are up 20.1[ads1]% this year, while Microsoft is up more than 17.5%.

Amazon (AMZN) and Meta (META) earnings are on deck for later this week.

Positive earnings surprises have largely been in line with Wall Street expectations, with about 60% of companies beating sales and 70% topping earnings estimates, slightly below their long-term average, according to UBS.

Another focal point for Wall Street will be the energy market, as some of the biggest players post earnings at the end of the week, including Exxon ( XOM ), Chevron ( CVX ), Valero ( VLO ) and TotalEnergies SE ( TTE ).

In individual stock moves, shares of PepsiCo, Inc. ( PEP ) rose after the company raised its full-year earnings guidance following the earnings pace in the first three months of this year, which was boosted by robust demand and higher prices.

General Electric Company (GE) shares climbed Tuesday morning after the manufacturer posted first-quarter earnings that jumped 25% in its aerospace business.

Shares in General Motors Company (GM) rose after the automaker reported an upbeat forecast that signaled the industry’s pricing power will run out.

3M Company ( MMM ) shares rose after the company announced its restructuring plan that will affect 6,000 jobs globally.

Shares closed mixed on Monday as the last of the bank earnings rolled in after a turbulent first quarter for the sector. First Republic Bank ( FRC ) grabbed the spotlight, surging over 12% on Monday before the regional lender reported a net loss of $72 billion in deposits in the first three months of this year. The stock fell back more than 20% in premarket trading on Tuesday.

Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv

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