US Stock Futures Decline on Weaker GDP Report and Tech Earnings Outlook

US stock futures declined Thursday following a weaker-than-expected GDP report for Q1, which showed a growth of only 1.6%. This slowdown in economic expansion has raised concerns among traders. Additionally, Meta's stock plummeted 12% in premarket trading after the company forecasted lower-than-expected revenue for Q2, marking its largest potential drop since October 2022. IBM also saw an 8% decrease after missing revenue estimates for Q1.

Early week gains on Wall Street, driven by AI-related optimism, are now waning. Upcoming US economic data will refocus attention on the Federal Reserve's potential policy adjustments, with Fed funds futures indicating a possible rate cut by September.