Wall Street futures slide on rate hike jitters; Meta rises By Reuters

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<span>© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. REUTERS/Brendan McDermid</span><br />
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<p>(Reuters) &#8211; Wall Street futures fell on Thursday as investors digested minutes of the Federal Reserve&#8217;s June meeting, while Meta bucked the slide in rate-sensitive technology and growth companies as it launched a Twitter-like app, Threads.</p>
<p>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.</p>
<p>Most tech and growth megacaps fell in early premarket trading, with Alphabet (NASDAQ:) and Tesla (NASDAQ:) down 0.6% and 0.9%, respectively.</p>
<p>Meta Platforms rose 1.7% after attracting millions of users within hours of launching Threads on Wednesday.</p>
<p>&#8220;No doubt there will be bumps in the road, but the injection of some healthy competition will be a welcome development for consumers,&#8221; said Victoria Scholar, head of investment at Interactive Investor.</p>
<p>&#8220;(It) could provide support to Meta&#8217;s share price if Threads turns out to be a success, as its huge number of initial sign ups suggests.&#8221;</p>
<p>After a dismal 2022, big growth and technology stocks such as Meta have seen outsized gains this year, with the clocking its biggest first-half rise in 40 years.</p>
<p>At 05:30 a.m. ET, were down 154 points, or 0.45%, were down 19.25 points, or 0.43%, and were down 64.25 points, or 0.42%.</p>
<p>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&#8217;s (ISM) non-manufacturing PMI numbers.</p>
<p>Chipmakers Qualcomm (NASDAQ:) and Intel (NASDAQ:) extended declines, dropping 1.2% each, as a trade war between Beijing and Washington escalates.</p>
<p>Beijing restricted exports of metals used in semiconductors on Monday, adding that the controls were &#8220;just a start,&#8221; ahead of U.S. Treasury Secretary Janet Yellen trip to China.</p>
<p>Among other movers, <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Exxon Mobil </span></span> (NYSE:) eased 0.9% on signaling a sharp drop in second-quarter operating profit on lower prices and weaker oil refining margins, according to a regulatory filing.</p>
<p>JetBlue Airways (NASDAQ:) fell 1.2% after the company said it would follow a U.S. judge&#8217;s May order to end an alliance with American Airlines (NASDAQ:) to protect a planned $3.8 billion purchase of <span itemscope="" itemtype="http://schema.org/Corporation"><span itemprop="name"> Spirit Airlines </span></span> (NYSE:).</p>
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<br /><a href="https://www.investing.com/news/economy/wall-street-futures-slide-on-rate-hike-jitters-meta-rises-3120605">Source link </a></p><p>The post <a href="https://forextraderhub.com/wall-street-futures-slide-on-rate-hike-jitters-meta-rises-by-reuters.html">Wall Street futures slide on rate hike jitters; Meta rises By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>