Tech shares stay on the heavy side so far on the day | Forexlive
That is helping to moderate the recent gains and threatens the three-day (yesterday was a marginal one) win streak this week. Nasdaq futures are down 0.8% currently, extending losses from around 0.2% at the start of the session:
That isn’t really impacting the overall mood too much though, as value stocks are holding their own so far today. That is being reflected by a slightly more positive mood now among European indices and Dow futures are also up 0.1% currently.
The drag in tech shares sentiment is stemming from the Tesla and Netflix earnings. The former is weighed lower after Elon Musk said that he would cut prices on EVs again, even at the expense of the company’s margins. Meanwhile, the latter saw Q2 revenue disappoint and that is enough for investors to hit the sell button after hours.