GDP data will likely ignite another recession debate, while markets sift through a puzzling Fed rate hike and brace for crucial June quarter earnings from Apple after the close of trading.

Stock futures lower with earnings, GDP data in focus; Meta shares tumble after Q2 earnings miss, muted ad outlook; Spirit soars after cancelling frontier deal, setting up JetBlue takeover; Ford shares leap after solid Q2 earnings, outlook hold and Apple earnings on deck amid demand, chip, China impact questions.

While the S&P 500 has dropped 17% year to date, Visa has slipped only 2% and Mastercard just 5%.

Credit-card companies face some speed bumps amid the potential for an economic downturn, Wells Fargo says.

JPMorgan, the nation's largest bank, reportedly told employees it will pay travel costs for women needing abortion and reproductive health access.

Accelerating cross-border travel should lift the earnings for two credit-card companies, according to Wells Fargo analysts.

Visa has slid 8% since April 28, and Mastercard has lost 9%, but their fundamentals are strong, Bank of America says.

The Dow finishes up 600 points as the tech sector helps markets rebound from heavy losses.

Stock futures power higher on tech sentiment; dollar nears 20-year peak; Meta shares surge as Facebook user rebound offsets mixed Q1 earnings; Apple shares higher ahead of A2 earnings with iPhone demand in focus; ford shares jump as carmaker holds outlook amid Q1 struggles and Teladoc shares collapse after Q1 loss, outlook cut

Apple is asking assemblers to put together 220 million iPhones this year, Bloomberg reported, a tally that largely matches 2021 levels.

"The supply chain continues to be the limiting factor in our production rates but we remain confident in our ability to achieve our target," said CFO Claire McDonough.

DNA-sequencing leader Illumina swung to a loss in Q2 2022. Contributions from Grail didn't help.