By Oliver Gray
Investing.com - US stock futures traded lower in early APAC deals on Wednesday, retreating from record highs touched in the previous session and snapping 5 consecutive sessions of gain as risk sentiment soured amid growing fears of a broader regulatory crackdown in Chinese markets and soaring domestic coronavirus infection rates.
During regular trade, the S&P 500 fell 0.47%, while the Dow shed 85.79 points, or 0.24%. The Nasdaq Composite declined 1.21%, posting the worst session since May 12.
Meanwhile, second quarter corporate earnings season is in full-swing with Apple (NASDAQ:AAPL) moving 2.06% lower in extended trade after reporting results. The tech giant forecasted slowing revenue growth amid a global chip shortage, while results came in well above market expectations, with overall sales lifting 36% from Q3 2020 and iPhone sales increasing nearly 50% on an annual basis. Microsoft (NASDAQ:MSFT) also moved 0.16% higher after-hours after reporting earnings and quarterly revenue guidance that exceeded expectations.
Local 10-year Treasury bond yields were at 1.249%.
On the data front, U.S. consumer confidence held at a 16-month high in July and rose for the 6th consecutive month as consumer optimism on business conditions, jobs and personal finances remained positive amid the worsening spread of the coronavirus Delta variant.