STOCK MARKET NEWS: Futures decline, Microsoft shares fall, Twitter ads fall

U.S. equity futures traded lower after Microsoft revenue figures missed expectations.

The major futures indexes suggest a decline of 0.8% on the S&P 500 when the opening bell rings.

Futures on the tech heavy Nasdaq are looking at a decline of 1.2%.

U.S. West Texas Intermediate (WTI) crude traded around $80.00, after a 1.8% drop on Tuesday.

Brent crude traded around $86.00 per barrel after falling 2.3% in the prior session.

Microsoft shares are down 2% in premarket trading after the company narrowly missed Wall Street estimates for second-quarter revenue on Tuesday, squeezed by a slump in the personal computer market that hammered its Windows software business.

Revenue rose 2% to $52.7 billion in the three months ended Dec. 31, compared with the average analyst estimate of $52.94 billion, according to Refinitiv IBES.

Morning earnings are scheduled from Abbott Labs, AT&T, and aerospace and defense heavyweights Boeing.

In the afternoon the attention will turn to EV maker Tesla. And we’ll hear from another Dow member, computer services giant IBM.

In Asia, Japan’s benchmark Nikkei 225 gained 0.4%.

Markets were closed in Hong Kong and Shanghai for Lunar New Year holidays.

On Wall Street, the S&P 500 slipped less than 0.1% to 4,016.95, its second loss in three trading days. The Dow Jones Industrial Average rose 0.3% to 33,733.96 and the Nasdaq composite fell 0.3% to 11,334.27.