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U.S. stock indexes slipped in the previous session after the Fed
minutes showed a vast majority of the policymakers expected
further policy tightening, even as they agreed to hold rates
steady in June.
Most tech and growth megacaps fell in early premarket trading,
with Alphabet and Tesla down 0.6% and 0.9%, respectively.
Meta Platforms rose 1.7% after attracting millions of users
within hours of launching Threads on Wednesday.
"No doubt there will be bumps in the road, but the injection of
some healthy competition will be a welcome development for
consumers," said Victoria Scholar, head of investment at
Interactive Investor.
"(It) could provide support to Meta's share price if Threads
turns out to be a success, as its huge number of initial sign
ups suggests."
After a dismal 2022, big growth and technology stocks such as
Meta have seen outsized gains this year, with the Nasdaq
Composite clocking its biggest first-half rise in 40 years.
At 05:30 a.m. ET, Dow e-minis were down 154 points, or 0.45%,
S&P 500 e-minis were down 19.25 points, or 0.43%, and Nasdaq 100
e-minis were down 64.25 points, or 0.42%.
Investors are focused on U.S. jobless claims, JOLTS and private
payrolls data due later in the day as well as the Institute for
Supply Management's (ISM) non-manufacturing PMI numbers.
Chipmakers Qualcomm and Intel extended declines, dropping 1.2%
each, as a trade war between Beijing and Washington escalates.
Beijing restricted exports of metals used in semiconductors on
Monday, adding that the controls were "just a start," ahead of
U.S. Treasury Secretary Janet Yellen trip to China.
Among other movers, Exxon Mobil eased 0.9% on signaling a sharp
drop in second-quarter operating profit on lower natural gas
prices and weaker oil refining margins, according to a
regulatory filing.
JetBlue Airways fell 1.2% after the company said it would follow
a U.S. judge's May order to end an alliance with American
Airlines to protect a planned $3.8 billion purchase of Spirit
Airlines.
(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by
Vinay Dwivedi)
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