The stock market today saw Nasdaq futures fall after the earnings reports of Amazon and Alphabet, with investors eagerly awaiting the upcoming jobs report.
In after-hours trading, stocks moved in response to earnings reports from tech giants Amazon, Alphabet, and Apple. Amazon reported a profit of $3.75 billion, a decrease from the previous quarter, but still better than expected. Alphabet reported a profit of $17.9 billion, a decrease from the previous quarter as well, but also better than expected. Apple reported a sales decline of 17%, the steepest decline since 2019, and their revenue was lower than expected.
The tech sector’s biggest companies have been turning to austerity measures in order to rein in costs and increase profits. These measures have been met with relief from investors.
In after-hours trading, the biggest moves were made by Apple, Amazon, and Ford. YouTube, however, didn’t meet expectations.
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