US stock futures plummeted as Alphabet Inc. and AMD reported disappointing earnings in extended trading, overshadowing gains made by Asian stocks that reopened after Lunar New Year holidays.
Investors faced uncertainty as they navigated the ongoing trade war between the US and China. In contrast, European equities saw a slight decline in contracts, with Euro Stoxx 50 falling 0.4%. The S&P 500 contracts also dropped 0.5%.
Asian shares rose for the second consecutive day, but Chinese markets took a hit as they reopened after the holidays. Meanwhile, the yen strengthened against the greenback, and gold reached a record high due to safe-haven demand.
Key Points:
– Alphabet Inc. and AMD reported poor earnings
– US stock futures declined amid trade war uncertainty
– Asian shares rose despite Chinese market drop
– Yen gained strength against the dollar
Source: https://www.bloomberg.com/news/articles/2025-02-04/stock-market-today-dow-s-p-live-updates