Ahead of Facebook Inc's financial results on Monday, the social media giant is expected to be hurt more than others in big tech by Apple Inc's iPhone privacy changes, investors fear, after Snap Inc missed revenue targets last week.
Nasdaq futures edged lower on Friday after chipmaker Intel warned of lower profit margins, while Snap Inc led declines among social media firms after flagging a hit to digital advertising from privacy changes by Apple.
Investors are homing in on a flood of earnings reports from Wall Street’s tech and Internet giants, as the high-growth stocks that have led markets higher for years face pressures from regulation, supply-chain snags and rising Treasury yields.
Former U.S. President Donald Trump's deal to create a social media app after Twitter Inc and Facebook Inc barred him won an exuberant endorsement from investors, with shares in a shell company backing the plan closing up more than 350% on Thursday after rising more than.
Investors are homing in on a flood of earnings reports from Wall Street’s tech and Internet giants, as the high-growth stocks that have led markets higher for years face pressures from regulation, supply-chain snags and rising Treasury yields.