**Wall Street Stumbles Amid Disappointing Tech Earnings and Economic Data**

Stock futures took a hit on Wednesday evening as Wall Street responded to the latest earnings reports from major technology firms. Futures for the S&P 500 fell by 0.3%, while Nasdaq 100 futures decreased by 0.5%. Dow Jones Industrial Average futures saw a decline of 27 points. This downtrend followed a particularly tough after-hours session where Meta Platforms' shares dropped 3% due to missed user growth targets and a warning of increased capital expenditures in 2025, and Microsoft's revenue projection led shares tumbling nearly 4%.

During the regular trading session earlier on Wednesday, all major indices posted modest losses. The S&P 500 declined by 0.3%, the Dow fell by 0.2%, and the Nasdaq Composite was down by almost 0.6%. Investors were also reacting to the third-quarter U.S. GDP report which showed a 2.8% annualized growth rate, falling short of the expected 3.1% according to Dow Jones.

Adding to market anxieties is the anticipation of Thursday's personal consumption expenditures (PCE) price index for September, the Federal Reserve's preferred indicator of inflation. Economists predict that the PCE will grow by 0.2% monthly and 2.1% yearly. This data, along with Friday's October payroll report, will heavily influence the Fed's interest rate decision at their two-day policy meeting concluding on November 7.

Tech sector earnings continue to draw scrutiny with reports from Apple, Amazon, Uber, Merck, and Intel expected on Thursday. Investors and analysts alike are looking closely at these results to gauge the health of the technology sector.

Microsoft's revenue forecast of $68.1 billion to $69.1 billion for the fiscal second quarter did not meet analysts' expectations of $69.83 billion, causing a nearly 4% drop in its stock. Conversely, Booking Holdings saw a promising jump of nearly 6%, outperforming earnings and revenue forecasts. On the downside, Starbucks' global same-store sales dropped 7% in the fiscal fourth quarter, leading to a 1% decline in their shares.

With economic reports and tech earnings setting the tone, investors are braced for more volatility as crucial data releases loom on the horizon.