Nasdaq Futures Down Triple Digits as Tech Concerns Emerge

Stronger-than-expected private payrolls data is also in focus

Fernanda Horner

Digital Content Manager

Feb 5, 2025 at 9:10 AM

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Volatility is plaguing Wall Street, with Nasdaq-100 Index (NDX) futures last seen off triple digits after Alphabet (GOOGL) missed cloud revenue estimates, and Advanced Micro Devices (AMD) saw worse-than-expected data center sales. Futures on the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are also lower amid the latest private payrolls data, which showed companies added a higher-than-expected 183,000 jobs in January.

Continue reading for more on today's market, including:

Behind this software stock's record highs.
Broligarch nation: Will Meta stock keep surging?
Plus, Walt Disney losing subscribers; Uber's lackluster guidance; and China weighs Apple crackdown.

5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts and 894,672 put contracts traded on Tuesday. The single-session equity put/call ratio fell to 0.51 and the 21-day moving average stayed at 0.60.
Walt Disney Co (NYSE:DIS) stock is down 2.2% in premarket trading, despite the entertainment concern beating earnings and revenue expectations for the fiscal first quarter. The company saw a 1% loss in Disney+ subscribers, and said it could see another decline in the second quarter. DIS still sports a 17.2% year-over-year lead.
Uber Technologies Inc (NYSE:UBER) announced a fourth-quarter revenue win, but lackluster guidance for its fiscal first quarter is weighing on the stock. UBER is 5.1% lower before the bell, looking to trim its 15.6% lead for 2025.
Shares of Apple Inc (NASDAQ:AAPL) are down 2.2% ahead of the open, amid news that China may open a probe into the tech giant's App store fees and policies. AAPL is looking to extend its 7% year-to-date deficit, but is still up 24% in the last 12 months.
Key manufacturing and services data due out this week.

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Asian, European Markets Mixed on Trade War Fears

Asian markets finished on both sides of the aisle on Wednesday, but a trade war with the U.S. looms large over the region. Chinese markets returned from the Lunar Holiday, with Hong Kong’s Hang Seng and China’s Shanghai Composite dropping 0.9% and 0.7%, respectively. China’s Caixin Services purchasing managers’ index (PMI) came in at 51 in January, falling from the previous month’s reading of 52.2. Elsewhere, South Korea’s consumer price index (CPI) rose 0.7% in January and a larger-than-expected 2.2% on an annual basis. The South Korean Kospi rose 1.1% for the day, while Japan’s Nikkei added 0.09%.

European markets are mixed as well, as investors unpack a flood of corporate earnings reports, including Banco Santander’s record quarterly profit. London’s FTSE 100 is up 0.2% at last glance, while the French CAC 40 dips 0.2% and the German DAX inches 0.01% lower.

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