U.S. stock futures fall after Apple, Amazon post earnings
U.S. stock index futures sank late Thursday, after Apple Inc. and Amazon.com Inc. warned of uncertainty ahead due to the coronavirus pandemic. Dow Jones Industrial Average futures YM00, -1.82% fell more than 280 points, or 1.2%, and S&P 500 futures ES00, -2.02% and Nasdaq-100 futures NQ00, -2.45% declined as well.
Apple AAPL, +2.11% and Amazon AMZN, +4.26% reported earnings after the market closed, with Apple reporting a dip in profits but growing sales, but the tech giant said it would not give third-quarter guidance due to uncertainty caused by the pandemic.
Amazon beat analysts’ earnings estimates, but warned it might lose money in the current quarter as it ramps up spending to deal with the pandemic. Both companies’ stock fell in the extended session.
Earlier in the day, U.S. stocks ended lower as investors weighed mixed corporate earnings and a report that the Trump administration was considering retaliating against China for its handling of the coronavirus. Still, for the month, the Dow DJIA, -1.17% gained 11.1%, while the S&P 500 SPX, -0.92% ended up 12.7%, representing their best monthly gains since 1987 and their best April performances since 1938, according to Dow Jones Market Data.
The Nasdaq COMP, -0.28% ended up 15.5%, its best monthly advance since 2000 and its best April on record.