08.02.2022 05:26 PMUS stock index futures moved down Tuesday after several companies' disappointing quarterly reports. Investors are looking forward to this week's inflation data to make further predictions on interest rate dynamics.
Pfizer Inc. stocks fell 3.4% in premarket trading after full-year sales estimates for the COVID-19 vaccine and drugs fell below Wall Street's expectations.
Major Wall Street indexes fell on Monday after the Meta Platforms company stocks fell 5%. The company's stocks fell another 1.7% in premarket trading after the billionaire investor Peter Thiel decided to leave the company's board.
At 07:01 a.m. ET, the Dow e-quotes were down 1 point, the S&P 500 e-quotes were down 6.5 points, or 0.15%, and the Nasdaq 100 e-quotes were down 35.5 points, or 0.24%.
There have been numerous events affecting the key indices: worries about tougher US Federal Reserve policies, Ukrainian geopolitical problems, and ambiguous results of major technology companies.
Everyone is waiting for U.S. consumer prices data which is on tap on Thursday, after last week's appallingly strong labor data in the U.S. drew additional attention to inflation. The figures are predicted to be 7.3% which is a historically high rate for the last 40 years.
78.3% of the 281 S&P 500 companies that gave their earnings reports on Monday exceeded analysts' expectations, compared with an average of 84% for the past four quarters.
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