Futures linked to the Dow Jones Industrial Average hovered near the flatline Wednesday evening after the 30-stock index posted its sixth consecutive winning day.
Dow futures added 6 points, or 0.02%. S&P 500 futures hovered near the flatline, while Nasdaq 100 futures fell 0.1%.
In extended trading, Airbnb pulled back more than 8% after weak guidance overshadowed a first-quarter beat on top and bottom lines. Retail trading platform Robinhood climbed 3% after the company surpassed first-quarter estimates for earnings and revenue.
During regular trading Wednesday, the S&P 500 inched slightly lower to close near the flatline, while the Nasdaq Composite slid about 0.2%. A slate of falling tech stocks weighed on the indexes, including Uber and Shopify, both of which had recently reported quarterly results. The 30-stock Dow was the outperformer of the major averages, adding more than 170 points.
“We probably are just retracing some of the enthusiasm that we came into the start of the year with,” said Josh Brown, CEO of Ritholtz Wealth Management, on “Closing Bell.”
“April was the worst month that we’ve seen in quite a while, and I think that was really a precursor to some of the reactions we’re now getting after earnings reports,” he said.
Investors will next turn their attention toward quarterly results from Warner Bros Discovery and Akamai Technologies on Thursday.
On the economic data front, weekly jobless claims are due Thursday morning.
