Tech Mega Caps Post Solid Results
But Not Without Flaws
Highlights
U.S. equity futures tumble amid concerns over Tech mega cap earnings
Gilts yields jump post-Reeves budget — but good news for sterling
Even with yesterday’s solid GDP number, excess supply continues to build in the economy
New data show labor market loosening and wages cooling
Key Takeaways
Risk-Off Sentiment Returns Amid Tech Mega-Cap Weakness
The risk-off trade is back in vogue. U.S. equity futures are deep in the red in the early going, undercut by some unfavorable news from the Tech mega caps.
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