Wall Street leaned toward small losses early today, the Associated Press reports, coming off a four-day winning streak that’s been driven broadly by better-than-expected earnings reports from U.S. companies. Futures for the S&P 500 slid 0.2% before the bell, while futures for the Dow Jones Industrial Average ticked down less than 0.1%.
Uber tumbled 7.4% after it surprised investors with a 32 cents-per-share loss in its most recent quarter and fewer gross bookings than Wall Street expected.
Reddit jumped 11% in premarket after the online message board posted a smaller loss than expected as its revenue grew nearly 50% from the previous quarter on record traffic to its site.
Markets have steadied after Federal Reserve Chair Jerome Powell said the central bank remains closer to cutting its main interest rate than hiking it, despite a string of stubbornly high readings on inflation this year.
In other trading, U.S. benchmark crude oil fell $1 to $77.38 per barrel in electronic trading on the New York Mercantile Exchange. U.S. crude prices have fallen 10% in the past month but remain about $8 per barrel higher than they were when the year began. Brent crude oil, the international standard, declined $1.01 cents to $82.15 per barrel.
The dollar rose to 155.44 Japanese yen from 154.50 yen.
