Wall Street futures followed global markets lower Tuesday amid a bevy of U.S. earnings reports and an update on economic growth.
Dozens of the nation's biggest companies, including Microsoft and Amazon, are due to report earnings this week. McDonald's rose before the bel l after the fast food chain reported higher-than-expected sales and profit in the first quarter.
On Thursday, the U.S. releases new data on economic growth during the first three months of the year. Economists believe growth slowed in that time due to interest rate hikes that are being used by the U.S. Federal Reserve to cool stubbornly high inflation. Economists expect growth to slow to 1.9% at an annual rate, down from 2.6% in the final quarter of 2022.
Late Monday, First Republic Bank said its depositors pulled more than US$100 billion out of the bank during last month's crisis, as fears swirled that it could be next. Shares are plunging before the opening bell Thursday. At midday in Europe, the FTSE 100 in London fell 0.3% and the CAC 40 in Paris retreated 0.6%. The DAX in Frankfurt was essentially unchanged.
India's Sensex advanced less than 0.1% to 60,105.07. Singapore and Bangkok declined. New Zealand and Australian markets were closed for a holiday.
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