Dow Jones Futures: Snap Crashes, Intel Tumbles On Earnings; Donald

Dow Jones futures and S&P 500 futures tilted higher Friday morning while Nasdaq futures retreated slightly, even as Snap stock crashed and Intel (INTC) tumbled on earnings. That Snap (SNAP) news also hit Facebook (FB), Google parent Alphabet (GOOGL) and Twitter (TWTR), Pinterest (PINS) and Trade Desk (TTD), while the Intel news boosted AMD stock.

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The stock market rally was mixed Thursday, but the S&P 500 hit a record high while growth stocks led despite rising Treasury yields. Tesla (TSLA) neared a buy point Thursday and several stocks flashed buy signals. But the day’s big mover was Digital World Acquisition (DWAC), the SPAC merger partner for Donald Trump’s new social media venture. DWAC stock kept racing higher early Friday.

Dow Jones Futures Today

Dow Jones futures rose 0.1% vs. fair value. S&P 500 futures reversed slight losses to climb 0.1%. Nasdaq 100 futures sank 0.15%, but well off overnight lows. Intel stock is a Dow Jones, S&P 500 and Nasdaq member. Facebook and Google stock are S&P 500 and Nasdaq titans.

The 10-year Treasury yield edged up to 1.69%. Crude oil futures and copper prices rose slightly after both fell Thursday.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Tesla stock, Google and AMD are on IBD Leaderboard. AMD stock also is on SwingTrader. Google stock is on IBD Long-Term Leaders. Snap stock, AMD and Google are on the IBD 50.

The video embedded in this article reviewed the overall market action and analyzed Match Group (MTCH), Boot Barn (BOOT) and Netflix (NFLX).

Snap Stock Cracks, Facebook Slumps

Snap earnings came in far above third-quarter estimates. But revenue just missed. The Snapchat parent also guided low for Q4 revenue. Recent Apple (AAPL) privacy changes are taking a toll on Snap’s advertising business.

Snap stock plummeted 21%, signaling a plunge below the 50-day and 200-day lines and a possible five-month low. Snap stock had been trying to set up again after several head fakes in the past several months.

Meanwhile, Snap’s advertising woes are a bad sign for social media rivals and beyond.

FB stock, which has been trying to bounce back from its own woes, slumped 4% in overnight trading. Facebook has warned of headwinds from Apple privacy changes.

TWTR stock gave up 4%. Google stock sank 2%, back below its 50-day line. PINS stock slid 2%. Pinterest shot up 13% Wednesday on reports that PayPal (PYPL) is in talks to buy the digital scrapbooking site.

The Trade Desk stock lost 5%. Facebook, Google and Twitter report next week, with Trade Desk earnings likely in early November.

Intel Earnings

Intel earnings topped views. But adjusted revenue fell short by some measures, led by data-center chips. Q4 earnings guidance was light, as operating expenses rise. The chip giant’s CFO is stepping down as well. Intel stock, which has been a laggard for quite some time, sank 10%.

AMD stock rose modestly on…