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US Stock Futures Plunge on Disappointing Tech Earnings US stock futures fell sharply on Wednesday following disappointing quarterly results from megacap tech firms Tesla and Alphabet. Extended Trading Highlights: - Tesla: Tumbled 8% after reporting a 7% decline in second-quarter automotive revenue. - Alphabet (Google): Dropped 2% despite beating earnings and revenue estimates, as YouTube advertising revenue missed forecasts. Tuesday's Market Performance: - Dow Jones Industrial Average: Shed 0.14% - S&P 500: Fell 0.16% - Nasdaq Composite: Lost 0.06% Sector Performance: - S&P 500 Sectors: Eight out of the 11 sectors finished lower, with energy, utilities, and consumer staples leading the declines. Notable Stock Movements: - UPS: Dropped 12.1% after missing earnings expectations. - General Motors: Fell 6.4% due to delays in its electric vehicle plans. - GE Aerospace: Jumped 5.7% after exceeding earnings and revenue estimates, citing improved profit margins and an elevated full-year outlook. Investor Focus: Investors are reacting to the mixed earnings reports, particularly the significant declines in Tesla and Alphabet stocks, which are weighing heavily on market sentiment. The broader market also saw declines, with most sectors finishing in the red. Looking Ahead: Market participants will continue to monitor earnings reports from major corporations, as well as any further economic data releases, to assess the broader market trajectory. The performance of tech stocks, in particular, will be crucial in determining near-term market direction. Based on past data, we can see that USTEC and US30 both are very likely to wander around 19,500 pts and 40,000 pts respectively. Risk Disclaimer: This advice is general in nature, without considering your specific financial situation and needs. Investment involves risks, so please evaluate carefully.