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Apple Inc slipped 1.1% in premarket trading after it forecast
slowing revenue growth, as global chip shortage bit into its
ability to sell Macs and iPads.
Shares of Google parent Alphabet Inc jumped 3.8% after a surge
in advertising spending powered its record revenue and profit.
Microsoft Corp gained too, up 0.5%, as a boom in cloud services
helped it beat Wall Street expectations for revenue and
earnings.
Worries around China's regulatory crackdown across multiple
sectors, including heavyweight technology companies, have
weighed on investors' mood this week. However, anticipation of
stellar results from Wall Street's technology majors had sent
the three major indexes to record highs on Monday.
The Fed's policy-meeting outcome is in focus as investors seek
hints on the central bank's plan to taper its large asset
purchases programme, amid risks of a COVID-19 resurgence in the
United States and rising inflation.
Fed Chairman Jerome Powell will hold a news conference following
the 2 p.m. EDT (1800 GMT) release of the central bank's latest
policy statement.
At 6:48 a.m. ET, Dow e-minis were down 39 points, or 0.11%, S&P
500 e-minis were up 2.25 points, or 0.05%, and Nasdaq 100
e-minis were up 21.25 points, or 0.14%.
Among other companies that reported earnings, Starbucks Corp
fell 2.8% after it lowered its fiscal 2021 forecast for China
sales growth as COVID-19-related restrictions loom longer than
expected.
Payment company Visa Inc slipped 1.6% despite beating estimates
for quarterly profit.
(Reporting by Sruthi Shankar in Bengaluru; editing by Uttaresh.V)
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