Dow Jones Futures: Snap Crashes, Intel Tumbles On Earnings; Donald Trump Makes SPACs Great Again – Investor’s Business Daily
Dow Jones futures and S&P 500 futures tilted higher Friday morning while Nasdaq futures retreated slightly, even as Snap stock crashed and Intel (INTC) tumbled on earnings. That Snap (SNAP) news also hit Facebook (FB), Google parent Alphabet (GOOGL) and Twitter (TWTR), Pinterest (PINS) and Trade Desk (TTD), while the Intel news boosted AMD stock.
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The stock market rally was mixed Thursday, but the S&P 500 hit a record high while growth stocks led despite rising Treasury yields. Tesla (TSLA) neared a buy point Thursday and several stocks flashed buy signals. But the day’s big mover was Digital World Acquisition (DWAC), the SPAC merger partner for Donald Trump’s new social media venture. DWAC stock kept racing higher early Friday.
Dow Jones Futures Today
Dow Jones futures rose 0.25% vs. fair value, with American Express (AXP) giving a modest lift on earnings. S&P 500 futures reversed slim overnight losses to climb 0.1%. Nasdaq 100 futures sank 0.2%, but off overnight lows. Intel stock is a Dow Jones, S&P 500 and Nasdaq member. Facebook and Google stock are S&P 500 and Nasdaq titans.
The 10-year Treasury yield edged up to 1.69%. Crude oil futures and copper prices rose slightly after both fell Thursday.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Tesla stock, Google and AMD are on IBD Leaderboard. AMD stock also is on SwingTrader. Google stock is on IBD Long-Term Leaders. Snap stock, AMD and Google are on the IBD 50.
The video embedded in this article reviewed the overall market action and analyzed Match Group (MTCH), Boot Barn (BOOT) and Netflix (NFLX).
Snap Stock Cracks, Facebook Slumps
Snap earnings came in far above third-quarter estimates. But revenue just missed. The Snapchat parent also guided low for Q4 revenue. Recent Apple (AAPL) privacy changes are taking a toll on Snap’s advertising business.
Snap stock plummeted 20%, signaling a plunge below the 50-day and 200-day lines and a possible five-month low. Snap …….