Stock futures fall after latest batch of earnings: Live updates

U.S. stock futures fell Friday as investors digested the latest round of corporate earnings, including results from Amazon. 

Dow Jones Industrial Average futures fell by 106 points, or 0.3%. S&P 500 and Nasdaq-100 futures slipped 0.2% each.

Amazon shares were down more than 2% after initially rising. The online retailer said its cloud business decelerated when reporting first-quarter results, though it did beat Wall Street’s expectations for revenue for the quarter.

Meanwhile, Snap tumbled 18% in extended trading following a revenue miss. Pinterest shares fell almost 14% after issuing disappointing second-quarter revenue growth expectations.

The earnings season has been better than expected. Of the 261 S&P 500 companies that have reported earnings, about 80% have reported positive surprises, according to FactSet data.

On the more positive side, Intel shares climbed more than 5% after the semiconductor firm beat estimates on the top and bottom lines.

Investors are coming off a strong trading session for the major averages, with the Dow Jones Industrial Average and S&P 500 notching their best day since January. Meanwhile, the Nasdaq Composite jumped 2%, posting its best day since March.

Those gains come after a better-than-expected report from Meta fueled a rally in tech stocks. Investors appeared to shake off light GDP data that could signal the Federal Reserve’s rate-hiking campaign may soon come to an end.

“Yesterday’s 2% stock rally, which was at odds with not-so-great Q1 inflation and GDP releases, may be part of the final ‘pull-up,'” said Wells Fargo analyst Christopher Harvey in a note to clients.

On the economic front, traders will watch for the latest personal income and spending data, due out Friday before the open. Economists polled by Dow Jones are expecting core prices to have risen 0.3% in March from the prior month. That’s in line with the prior reading.

The final reading of the April consumer sentiment data is also set to be released Friday at 10 a.m. ET. It’s expected to show a reading of 63.5, which is the same as the previous readout.