US STOCKS-Wall Street heads for muted open amid mixed earnings reports
- Coca-Cola jumps on raising annual outlook
- 3M falls on cutting FY forecast on dollar impact
- GM shares up as profit beats estimates
- Earnings from Microsoft, Alphabet awaited
- Futures down: Dow 0.54%, S&P 0.37%, Nasdaq 0.09%
Oct 25 (Reuters) – U.S. stock indexes were set for a subdued open on Tuesday, as investors digested a mixed bag of earnings reports from a flurry of companies ahead of results from megacap firms that could put a recent market rally to test.
Earnings reports from companies including Microsoft MSFT.O and Google-owner Alphabet GOOGL.O will offer further clues on the strength of corporate America amid higher Treasury yields and an aggressive Federal Reserve tightening cycle.
Shares of the two companies, which report after market close, were up about 0.2% each in premarket trading.
“There is a positive view (on technology earnings),” said Giuseppe Sette, president of AI investment platform Toggle. “In a way, their ability to play through an inflationary cycle is strong, especially because tech has always had a very flexible ability to adjust prices.”
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