Wall Street ticked slightly lower before the opening bell today, the Associated Press reports, as more corporate earnings reports streamed in. Futures for the S&P 500 and the Nasdaq were both flat before the bell, while futures for the Dow Jones Industrial Average were 0.2% lower.
Audio equipment maker Sonos tumbled 16.5% after it said it was cutting its 2024 guidance due to the bumpy rollout of its new app.
Bumble, the Texas-based dating app, lost about 40% of its value after its revenue guidance for the third quarter came in well below Wall Street forecasts.
Athletic gear and shoe company Under Armour rose 5.3% after it eked out a small profit when analysts were expecting a loss. It also topped revenue expectations.
Strong earnings have been broadly supporting markets even as concerns linger over the trajectory for the U.S. economy following last week’s relatively weak jobs data, which sent global financial markets spiraling on fears that the economy might be trudging toward a recession.
In energy trading, benchmark U.S. crude picked up 9 cents to $75.32 per barrel. Brent crude, the international standard, lost 5 cents to $78.28 per barrel.
The dollar fell to 146.13 Japanese yen from 146.72 yen.
