Stock futures mostly lower after earnings disappointment

Boeing reported an earnings miss despite the strong demand for jets. The company reported a loss per share of $1.75 vs. earnings per share of 26 cents. On the revenue ground, the company reported revenue of $19.98 billion vs. $20.38 billion expectations. Supply chain and labor shortages became the major factor that weighed on the company performance.

Meanwhile, Microsoft reported eps of $2.32 vs. $2.29 and revenue of $52.75 billion vs. $52.94 billion expectation. The company’s share prices were down nearly 2% after it provides lower guidance for this year.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index seems manage to bounce again from the 32,500 – 33,250 area. The index might resume the bullish movement to target a new higher high. However, we might see the index trading sideway until next month’s FOMC meeting. If the index starts moving lower and closes below the daily SMA 200 then the trend could turn bearish again.

Activision Blizzard Inc (ATVI)

ATVI share prices is in a bearish trend with the price printing a new lower swing high and lower swing low. At the current time, a bullish correction is in progress. On the upside, the daily SMA 100 and the upper trendline will become the resistance levels to watch. If the share prices get rejected and start moving lower again then traders will observe the share prices reaction at the bottom trendline.