Stocks Fall After Earnings Reports

Stock futures slid Friday after several high-profile earnings misses cast doubt on the recent market rally. Traders are also bracing from key U.S. labour data.

Futures for the Dow Jones Industrials slumped 84 points, or 0.3%, early Friday to 34,013.

Futures for the S&P 500 dropped 27.75 points, or 0.7%, to 4,164.

Futures for the NASDAQ Composite handed back 160 points, or 1.3%, to 12,686.75.

Struggles of major tech stocks weighed on the market. Apple and Google-parent Alphabet both missed estimates on the top and bottom lines for their December quarters. Alphabet’s stock fell more than 3% in premarket trading, while Apple shares lost 4.3%. Amazon’s stock also dipped about 4.2% after the e-commerce giant’s report.

The earnings picture wasn’t much better outside of tech, as Ford and Starbucks also missed estimates. Ford stocks fell 5.5% and Starbucks lost 2.3%.

The moves in futures threatened to erase some large gains for the market on Thursday. The NASDAQ rose 3.25% for its best day since November and is on track for a fifth-straight winning week. The S&P 500 gained 1.5%.

The Dow, however, finished Thursday slightly lower, weighed down by health-care stocks, but is still positive for the week.

In Japan, the Nikkei 225 index tacked on 0.4%, while in Hong Kong, the Hang Seng dipped 1.4%.

Oil prices fell 19 cents to $75.69 U.S. a barrel.

Gold prices stumbled $1.40 to $1,929.40 U.S. an ounce.