Skip to main content

Futures for U.S. markets were negative Tuesday evening, after rosy earnings supported shares on Monday. Sluggish earnings reports from the likes of Apple (AAPL) - Get Apple Inc. Report and 3M (MMM) - Get 3M Company Report soured investors' moods Tuesday and may cast a pall over markets Wednesday.

Futures for the S&P 500 were off 0.23%, the Dow Jones Industrials, 0.19%, and Nasdaq, 0.28%, at 9:24 p.m. EDT.

Investors had hoped to cheer another day of strong earnings Tuesday, but were instead disappointed when 3M lowered its full-year outlook and then shook their heads at lower oil prices. The pain didn't stop after markets closed when Apple said fiscal fourth-quarter sales fell, which was expected but still let investors down.

U.S. markets Tuesday declined across the board with the S&P trimming 0.38%, the Dow, 0.3%, and Nasdaq, 0.5%.

Investors extended their sour mood in Asia after Q3 inflation came in higher than expected in Australia. The Nikkei slid 0.16%, the ASX in Australia 1.55%, the Kospi in South Korea 0.98% and Hong Kong's Hang Seng 0.91% at 9:50 p.m. EDT.

For its part, Europe had a mixed Tuesday with Germany's Dax slipping 0.04%, while the FTSE in London gained 0.45%. The Cac in Paris closed 0.26% lower.

Scroll to Continue

TheStreet Recommends

In currencies, the pound gained 0.168% to £0.822 at 9:52 p.m. EDT, while the yen added 0.119% to ¥104.3390, climbing above the 103 mark where it had been stuck for days.

After falling Tuesday, oil continued to slide lower as Asia awoke with industry standard Brent crude off 1% at $50.28 per barrel while U.S. crude fell 1.18% to $49.37 per barrel at 9:43 p.m. EDT. The prices represent December futures.

In after-hours trade, shares of Akamei (AKAM) - Get Akamai Technologies, Inc. Report leapt 8.35% to $64 even after the Web content distributor and cybersecurity company missed third-quarter earnings expectations.

Cambridge, Mass.-based Akamei reported third-quarter earnings of 43 cents per share on sales of $584 million, an increase of 6% over the year-earlier period. That's below the 61 cents per share that Wall Street wanted, though sales were higher than the expected at $571.9 million.

What investors liked was the success of the company's cloud security unit, which saw revenue jump 46% to $95 million.

Panera Bread (PNRA) also rose in extended trading, adding 5.49% to $205.25. The St. Louis-based eatery said it earned $1.37 per share in the third quarter, above an earnings forecast of $1.27 per share. Wall Street wanted $680 million in sales, but the company turned in $684 million in revenue.

It also raised its forecast for full-year earnings to as much as $6.72 per share.

Apple and Panera are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL and PNRA? Learn more now.