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Stock market falls as Alphabet, AMD earnings disappoint; trade war heats up
U.S. stock futures fell as Nasdaq led declines following disappointing earnings from Alphabet and AMD. Trade tensions between the U.S. and China also weighed on markets.
U.S. stock futures fell Wednesday, led by a 0.7% drop in Nasdaq 100 futures after Alphabet (GOOG, GOOGL) and AMD (AMD) posted mixed earnings. S&P 500 futures slipped 0.5%, while Dow futures edged down 0.2%.
Alphabet’s stock plunged 7% in after-hours trading as investors reacted to slowing cloud sales and rising costs, despite meeting revenue expectations. AMD initially gained on strong earnings but tumbled 8% after its CEO warned of weaker data center sales. Chipotle (CMG) also slid over 5% on cautious guidance.
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Meanwhile, trade tensions escalated as Trump imposed new tariffs on China, prompting swift retaliation from Beijing, including an antitrust probe into Google.
Looking ahead, Disney (DIS) reports earnings Wednesday, with investors watching for updates on theme parks and Disney+ performance.
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Last update: Feb 05, 2025