META, MSFT, GOOGL, AAPL Among Stocks To Watch
While Dow Jones futures were down by 0.31% at the time of writing, the S&P 500 futures fell 0.12%.
- President Donald Trump concluded a meeting with his Chinese counterpart, President Xi Jinping, calling the meeting “great.”
- Federal Reserve Chair Jerome Powell also stated that a rate cut in December was “far from a foregone conclusion.”
- Asian markets ended Thursday’s trading session on a mixed note, with the Shanghai Composite declining the most at 0.74%.
U.S. stocks appear set for a negative opening on Thursday amid mixed earnings from big tech companies. While Meta Platforms Inc. (META) missed earnings expectations in the third quarter (Q3), Alphabet Inc. (GOOG) (GOOGL) Google surpassed Wall Street estimates.
Meanwhile, President Donald Trump concluded a meeting with his Chinese counterpart, President Xi Jinping. “I had a truly great meeting with President Xi of China. There is enormous respect between our two Countries, and that will only be enhanced with what just took place,” he said in a post on Truth Social.
Federal Reserve Chair Jerome Powell also stated that a rate cut in December was “far from a foregone conclusion,” after the Federal Open Market Committee (FOMC) announced a 25 basis point cut on Wednesday.
Futures Trade Higher
Dow Jones futures were down by 0.31% at the time of writing, the S&P 500 futures fell 0.12%, while the tech-heavy Nasdaq 100’s futures declined 0.09%. Futures of the Russell 2000 index gained 0.02%.
Meanwhile, the SPDR S&P 500 ETF (SPY) was down by 0.14% at the time of writing, Invesco QQQ Trust (QQQ) fell 0.17% on Thursday morning, and SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 0.34%. Retail sentiment around the S&P 500 ETF on Stocktwits remained in the ‘neutral’ territory over the past day.
Asian Markets Mixed
Asian markets ended Thursday’s trading session on a mixed note, with the Shanghai Composite declining the most at 0.74%, followed by the Hang Seng index at a dip of 0.24%, and the TWSE Capitalization Weighted Stock index 0.03% lower.
The Nikkei 225 gained 0.29%, followed by the KOSPI at 0.14%.
Stocks To Watch
- Meta Platforms Inc. (META): Meta Platforms shares plunged nearly 9% pre-market after the company’s Q3 earnings came below Wall Street expectations. Meta reported earnings per share (EPS) of $1.05 on revenue of $51.2 billion, while analysts expected an EPS of $6.72 on revenue of $49.5 billion, according to Stocktwits data. Meta made a $15.93 billion provision for a one-time, non-cash income tax charge related to the Trump administration’s “One Big Beautiful Bill Act.”
- Microsoft Corp. (MSFT): Microsoft reported an EPS of $4.13 on revenue of $77.7 billion, compared to Wall Street expectations of an EPS of $3.67 on revenue of $75.4 billion, according to Stocktwits data. Microsoft shares were down around 2% pre-market.
- Alphabet Inc. (GOOG) (GOOGL): Alphabet’s Q3 results surpassed Wall Street expectations, with the company reporting an EPS of $2.87 on revenue of $102.4 billion, compared to analyst estimates of an EPS of $2.26 on revenue of $99.9 billion, according to Stocktwits data. Alphabet’s Class A shares were up nearly 8% pre-market.
- Chipotle Mexican Grill Inc. (CMG): Chipotle shares plunged 18% pre-market after the company forecast that its comparable restaurant sales would decline in the low single digits for the fiscal year 2025.
- Apple Inc. (AAPL), Strategy Inc. (MSTR), and Amazon.com Inc. (AMZN) are among the companies scheduled to report their latest quarterly earnings on Thursday.
Also See: Fed Cuts Rate By 25 Basis Points, In Line With Expectations
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