Worries about the global tech sector.Posted on October 23, 2019
Texas Instruments — which is often seen as a proxy for the microchip industry — posted fourth-quarter guidance well below market estimates. The revenue warning exacerbated concerns that the global chipmaker industry was being squeezed by a downturn in demand and the long-running U.S.-China trade war.
In Europe, U.K. lawmakers voted in favor of Prime Minister Boris Johnson’s Brexit plan, but rejected his attempt to fast-track legislation to take the country out of the EU by the end of the month. The prime minister said the next step would be to wait for the EU to respond to a request to delay the current Brexit deadline of October 31.
Data, earnings On the data front, the Federal Housing Finance Agency (FHFA) will release its house price index for August at around 09:00 a.m. ET.
In corporate news, Boeing, Caterpillar and Eli Lilly are among some of the major companies set to report earnings before the opening bell.
Ford, Microsoft and Tesla are among those scheduled to report their latest quarterly figures after market close.