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.
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.