DJIA futures down 9 points (Il Sole 24 Ore Radiocor) - New York, 25 Jul - US futures were steady as investors assessed their options after a tech-driven wipeout ahead of key data on economic growth.

Wall Street suffered its worst losses since 2022 yesterday after disappointing results from "Magnificent Seven" duo Tesla and Alphabet triggered worries about the AI-led rally that has taken indexes to record highs.

The S&P 500 slumped 2.3% for its fifth drop in the last six days, the Dow fell 1.2%, and the tech-heavy Nasdaq slid 3.6%.

The underwhelming results from Tesla and Alphabet have sparked fears more big tech names could disappoint as the earnings season marches on.

A big rotation into smaller stocks, largely neglected in this year's tech-driven rally, has already started as doubts rise about whether the AI frenzy that buoyed the market rally this year may have gone too far.

Elsewhere investors will be closely following preliminary second-quarter GDP data later today to see how the US economy is faring as high interest rates and inflation weigh.

On the earnings front, Southwest and American airlines are among companies reporting their latest quarterly earnings today.

Futures on the Dow Jones were down 9.00 points, or 0.02%, S&P 500 futures were down 8.50 points, or 0.16%, while futures on the Nasdaq were 39.75 points, or 0.21%, lower.

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(RADIOCOR) 25-07-24 14:02:54 (0462) 5 NNNN