Wall Street sees mixed open in the blink of an eye, Twitter earnings weigh on tech sector
U.S. stocks were forecast for a mixed open on Friday, with tech-heavy Nasdaq Composite futures falling as downbeat quarterly results from Snap (SNAP) and Twitter (TWTR) weighed on the sector.
Dow Jones Industrial Average futures gained 0.3%. S&P 500 futures slid 0.1%, while Nasdaq futures slid 0.3%.
Oil prices fell, with the world’s first-month benchmark Brent down 0.4% and West Texas Intermediate down around 0.6%.
As of 9:45 a.m. ET, data is expected to show the manufacturing index for basket buyers coming in at 52.0 in July, while the services PMI is expected to come in at 52.7, according to data from Bloomberg.
In overseas markets, Hong Kong’s Hang Seng closed up 0.2%, China’s Shanghai Composite ended down 0.06% and the Japanese market was closed for holidays. Meanwhile, the UK’s FTSE 100 gained 0.2% and Germany’s DAX index rose 0.5% in early European afternoon trading.
In stocks, shares of American Express (AXP) were up 4.5% before the close after the company reported second-quarter earnings and revenue that beat consensus estimates. Shares of Hanger (HNGR) rebounded 25% on a proposed $1.25 billion takeover by Patient Square Capital.
On the losing side, shares of Snap (SNAP) fell 30% after the company swung to an adjusted loss in the second quarter despite higher revenue. Shares of Twitter (TWTR) fell 1.6% after the microblogging platform swung to a net loss in the second quarter.