By Oliver Gray
Investing.com - U.S. stock futures were trading higher in early APAC deals on Friday, after major benchmark averages finished lower in the regular session, with the Nasdaq Composite posting its worst day in over a year as investors continued to digest a slew of Q4 corporate earnings reports.
The Dow Jones Industrial Average fell 518.17 points, or 1.4%, to 35,111.16, the S&P 500 fell 2.4% to 4,477.44 and the Nasdaq Composite fell 3.7% to 13,878.82.
Dow Jones Futures added 0.55%, S&P 500 Futures gained 1.17% and Nasdaq 100 Futures were up 1.96%.
Among stocks, Meta Platforms Inc (NASDAQ:FB) shares plunged 26.39% after the company’s quarterly profit fell short of expectations, while issuing weaker-than-expected revenue guidance for the current quarter. Spotify Technology SA (NYSE:SPOT) fell 16.7% after the company’s latest quarterly figures showed a slowdown in premium subscriber growth.
Block Inc (NYSE:SQ) fell 11%, Microsoft Corporation (NASDAQ:MSFT) dropped 3.9%, Apple Inc (NASDAQ:AAPL) lost 1.67%, Netflix Inc (NASDAQ:NFLX) fell 5.56% and Alphabet Inc (NASDAQ:GOOGL) was down 3.32%.
EV makers were lower with Tesla Inc (NASDAQ:TSLA) down 1.6%, Rivian Automotive Inc (NASDAQ:RIVN) falling 6.16% and Lucid Group Inc (NASDAQ:LCID) losing 2.64%.
Honeywell International Inc (NASDAQ:HON)’s shares fell 7.6% after the company's earnings report fell short on revenue and provided lower-than-expected guidance.
In extended deals, Amazon.com Inc (NASDAQ:AMZN) popped 14.17% after reporting better than expected earnings results, with EPS coming in at $5.80 vs $3.57 expected and posting revenues of $137.4 billion vs $137.6 billion expected. The company also reported a gain of almost $12 billion from its investment in electric vehicle company Rivian.
Snap Inc (NYSE:SNAP) also popped 57.06% after reporting its first quarterly net profit, while EPS came in at 22 cents vs 10 cents expected and revenues at $1.3 billion vs $1.2 billion expected.
Ford Motor Company (NYSE:F) however, dipped 4.12% after it reported weaker than expected fourth-quarter earnings. EPS came in at 26 cents vs 45 cents expected while revenues were at $35.3 billion vs $35.5 billion expected.
On the bond markets, United States 10-Year yields were near fresh 2-year highs of 1.836%.
On the data front, market participants will be closely monitoring the upcoming jobless claims report later in the session.