Morning Movers: IBM plummets following preliminary Q2 results
Dow futures are modestly lower and Nasdaq futures are slightly higher as semiconductor stocks attempt to rebound from Monday's selloff. Markets are trading cautiously this morning as investors react to a mix of inflation data, bank earnings and congressional testimony from Federal Reserve Chair Kevin Warsh. The combination of macroeconomic data and the start of earnings season is expected to set the tone for markets over the coming weeks. Attention is turning to the first wave of second-quarter earnings from major U.S. banks. IBM is also under pressure after issuing a softer-than-expected revenue outlook, weighing on software and enterprise technology stocks. Crude oil is holding above $80 a barrel after renewed military action involving the U.S. and Iran disrupted shipping activity near the Strait of Hormuz. In pre-market trading, S&P 500 futures rose 0.34%, Nasdaq futures rose 1.21% and Dow futures fell 0.18%. Check out this morning's top movers from around Wall Street, compiled. UP AFTER EARNINGS - Goldman Sachs (GS) up 3% LOWER - IBM (IBM) down 22% after releasing selected preliminary Q2 financial results Apple (AAPL) down 1% after KeyBanc downgraded the stock to Underweight.
Dow futures are modestly lower and Nasdaq futures are slightly higher as semiconductor stocks attempt to rebound from Monday's selloff.
Markets are trading cautiously this morning as investors react to a mix of inflation data, bank earnings and congressional testimony from Federal Reserve Chair Kevin Warsh.
The combination of macroeconomic data and the start of earnings season is expected to set the tone for markets over the coming weeks.
Attention is turning to the first wave of second-quarter earnings from major U.S. banks.
IBM is also under pressure after issuing a softer-than-expected revenue outlook, weighing on software and enterprise technology stocks.
Crude oil is holding above $80 a barrel after renewed military action involving the U.S. and Iran disrupted shipping activity near the Strait of Hormuz.
In pre-market trading, S&P 500 futures rose 0.34%, Nasdaq futures rose 1.21% and Dow futures fell 0.18%.
Check out this morning's top movers from around Wall Street, compiled.
UP AFTER EARNINGS - Goldman Sachs (GS) up 3% LOWER - IBM (IBM) down 22% after releasing selected preliminary Q2 financial results Apple (AAPL) down 1% after KeyBanc downgraded the stock to Underweight.