Futures slip amid earnings deluge, rising Treasury yields
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Alphabet up ahead of earnings after the bell
Ford falls, Pfizer rises after results
JOLTS job data on tap
Futures down: Dow 0.37%, S&P 500 0.18%, Nasdaq 0.07%
Updated at 8:20 a.m. ET/1220 GMT
By Lisa Pauline Mattackal
Oct 29 (Reuters) -Wall Street was set to open lower on Tuesday as investors assessed a host of corporate results, with focus on Google-parent Alphabet's GOOGL.O earnings expected later in the day, while gains in U.S. Treasury yields also pressured equities.
"Magnificent Seven" member Alphabet's shares rose 0.35% in premarket trading ahead of its results due after market close, where it is expected to post its slowest revenue growth in four quarters.
This week marks the busiest period for S&P 500 earnings, with eyes on five of the "Magnificent Seven" group of stocks that are reporting quarterly results.
The group's results will be crucial to determining whether Wall Street can sustain the optimism around technology and artificial intelligence that has lifted indexes to record highs this year.
However, rate-sensitive stocks were under pressure as bond yields continued to rise, with the benchmark U.S. 10-year Treasury yield US10YT=RR breaching the 4.3% level for the first time since early July.
"It does look like the curve is normalizing, but I do think (yields) will move down at the end of the election and whenever we get more data showing the Fed's view of inflation versus jobs is correct," said Kim Forrest, chief investment officer at Bokeh Capital Partners.
Other megacap stocks were lower, with Nvidia NVDA.O and Apple AAPL.O both down 0.5%.
There were plenty of earnings for investors to sift through. Drugmaker Pfizer PFE.N rose 1.1% after hiking its profit forecast, while Vans parent VF Corp VFC.N leapt 19.2% after the company reported a profit for the first time in two quarters.
Meanwhile, Ford F.N slumped nearly 7% after the automaker said on Monday it expects to hit the lower end of its annual profit forecast.
D.R. Horton DHI.N dropped 10.4% on Tuesday after the homebuilder forecast 2025 revenue below estimates, while McDonald's MCD.N dipped 2.4% after reporting a drop in global sales.
Also in focus was September's JOLTS job openings and October consumer confidence data, due at 10 a.m. ET.
The JOLTS data will be scrutinized for signals on the strength of the labor market ahead of Friday's nonfarm payrolls report, as investors increasingly bet that the Federal Reserve will not cut interest rates as much as initially thought given the economy's robust performance.
Dow E-minis 1YMcv1 were down 158 points, or 0.37%, S&P 500 E-minis EScv1 were down 10.5 points, or 0.18%, and Nasdaq 100 E-minis NQcv1 were down 14.5 points, or 0.07%.
With earnings, geopolitical tensions in the Middle East, the upcoming U.S. elections and a Fed meeting, investors are anticipating a volatile few weeks.
The VIX .VIX has risen above 20 from below 15 in September.
Trump Media & Technology Group's DJT.O shares jumped 20%, after surging to their highest since June on Monday as the White House race enters its final stretch.
Of the 184 companies in the S&P 500 that have reported third-quarter earnings so far, 78.8% have reported above analyst expectations, fairly in line with average performance over the past four quarters, according to latest LSEG data.
Google-parent lags Big Tech rivals amid heated AI race https://tmsnrt.rs/4e7yLMR
Reporting by Lisa Mattackal in Bengaluru; Editing by Varun H K and Shounak Dasgupta
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