US stock futures drop on weak corporate earnings

FXStreet (Mumbai) – US stock index futures fell slightly on Friday on the back of weak corporate earnings and weak commodity prices.

The S&P 500 futures are down 0.24% at 2098.65. Nasdaq futures are down 0.24% at 4584.20, while DJIA futures are down 0.25% at 17,641.5.

Earnings disappointment

Linked reported a bigger net loss, while FireEye the cybersecurity company reported its slowest quarterly revenue growth since going public in 2013. Electronic Arts profits fell short of estimates. On the positive side, Expedia posted a second-quarter profit above analysts’ expectations and announced a larger dividend.

The downside pressure on the stock prices also comes from the oil prices, which fell after OPEC indicated there would be no output cuts despite a huge global oversupply.

US stock index futures fell slightly on Friday on the back of weak corporate earnings and weak commodity prices.

(Market News Provided by FXstreet)