Fundamental News - S&P500
US stock futures retreated on Wednesday as Treasury yields climbed higher on expectations of a more aggressive Federal Reserve tightening to tame soaring inflation, while Netflix tanked on disappointing results. Dow futures inched lower by 0.1%, while S&P 500 and Nasdaq 100 futures fell 0.4% and 1%, respectively. Netflix plummeted 25% in extended trading after reporting a loss of 200,000 subscribers in the 1st quarter, losing customers for the first time since 2011. Meanwhile, the benchmark 10-year US yield topped 2.97% to its highest since December 2018, further pressuring equity markets. The moves in the futures markets came after Wall Street rallied in regular trading on Tuesday as investors focused on the earnings season. The Dow gained 1.5%, the S&P 500 jumped 1.6% and the Nasdaq rallied 2.2%. Companies slated to report earnings on Wednesday include Procter & Gamble, Tesla and United Airlines, among others.