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Stock futures fell Thursday after a slate of mixed quarterly results dampened investor sentiment.
Futures for the Dow Jones Industrials dropped 88 points, or 0.2%, to 39,452.
Futures for the S&P 500 handed back 8.75 points, or 0.2%, at 5,534.75.
Futures for the NASDAQ Composite flopped 36.75 points, or 0.2% to 19,975.75.
Micron shares slipped more than 5% in the premarket after the chipmaker issued fourth-quarter revenue guidance in line with estimates. Levi Strauss dropped 15% after the jeans maker’s latest quarterly revenue disappointed investors.
Bank stocks were in focus after the Federal Reserve said Wednesday that the biggest U.S. firms are able to withstand a severe recession scenario. Goldman Sachs shares slid 1.6%, while JPMorgan Chase traded near the flatline.
Those moves come as Wall Street awaits the latest inflation data on Friday with the release of May’s personal consumption expenditures price index. Investors hope the report will show easing pricing pressures that could cement the likelihood the Fed will lower interest rates later this year.
Even with the sluggish trading activity, megacap tech names continued to outperform on Wednesday, bouncing back from a recent slide. On Wednesday, Amazon shares reached an all-time high, breaching $2 trillion in market capitalization for the first time.
On the economic front, traders will also watch for the latest reading of weekly jobless claims, durable goods orders and pending home sales.
In Japan, the Nikkei 225 ditched 0.8% Thursday, while the Hang Seng in Hong Kong fell 2.1%.
Oil prices picked up 58 cents to $81.48 U.S. a barrel.
Gold prices hiked $15.70 to $2,329.00 U.S. an ounce.
