Title: Futures lower after Tesla, IBM quarterly results
Oct 21, 2021 08:01AM ET
U.S. stock index futures fell on Thursday as IBM (NYSE: IBM) and Tesla (NASDAQ: TSLA) fell following their quarterly results, with financial backers anticipating more reports to see the impact of production network disruptions and work shortages on organizations.
Tesla Inc fell 1% in premarket trading on Wednesday after the company said its upcoming manufacturing plants and inventory network headwinds would reduce its margins, despite exceeding Wall Street earnings expectations for the second quarter.
The EV producer's quarterly report comes a day after portions of development peer Netflix Inc (NASDAQ: NFLX) slipped following its outcomes.
Other huge cap stocks fell somewhere in the range of 0.1% and 0.3% on Thursday, including Facebook Inc (NASDAQ: FB), Apple Inc (NASDAQ: AAPL), and Amazon.com Inc (NASDAQ: AMZN).
IBM slipped 4.7% after it missed market gauges for quarterly income as its overseeing foundation business experienced a decrease in orders.
Financial backers are watching out for the development viewpoints of organizations confronting increasing expenses, work deficiencies, and store network disturbances, with experts expecting the benefits of S & P 500 organizations to rise 33% a year sooner, as indicated by Refinitiv information.
On Wednesday, the Dow Jones Industrial Average set an intraday record high, closing in on its initial September high.
Furthermore, there is information on the radar that could show week after week jobless cases rising to around 300,000 last week, up from 293,000 the previous week.
Dow e-minis were down 105 points, or 0.3%, at 6:50 a.m. ET, S &P 500 e-minis were down 11.25 points, or 0.25%, and Nasdaq 100 e-minis were down 25.5 points, or 0.17%.