Stock market today: Nasdaq futures slip on China tariffs, corporate earnings
Published On Feb 4, 2025, 8:12 PM
U.S. stock futures are facing a downturn as tensions from the trade war with China escalate. Recently imposed tariffs by the Trump administration on Chinese goods have prompted a retaliatory response from China, which has introduced tariffs on 80 U.S. products. Notably, companies such as Alphabet and AMD are feeling the pressure from both the tariffs and disappointing earnings results. Alphabet's stock fell 7% following its earnings report, while AMD's shares dropped over 8% after concerns about declining data center sales. Chipotle's conservative guidance also led to a decline in its share price after earnings generally met expectations. Looking ahead, Disney's earnings report is anticipated, with some analysts expecting challenges in its parks and streaming segments.
Stock Forecasts
GOOG
Negative
Given the escalating trade tensions and disappointing earnings reports from major tech companies, the overall market sentiment is bearish. Companies like Alphabet and AMD are specifically impacted by both external trade issues and internal performance metrics, which suggests a challenging environment for tech stocks in the near-term.
AMD
Negative
Following the disappointing earnings forecast and lower guidance from AMD, prospects for growth in the semiconductor sector appear tense with market repercussions likely. This may drive traders to reassess positions in AMD shares.
CMG
Negative
With Chipotle's shares dropping after providing conservative future earnings guidance, it indicates potential challenges ahead for the fast-food chain amidst market volatility.
DIS
Negative
Disney is set to report earnings soon, and given the expected struggles, particularly in its parks business, there is a possibility of negative movement in Disney's stock post-report.
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