traders work on the floor of the new york stock exchange nyse june 29 2023 stock futures were little changed wednesday as traders contended with fitchs recent downgrade of the united states longterm rating futures tied to the sp 500 gained 002 while nasdaq 100 futures pulled back 002 dow jones industrial average futures meanwhile added 26 points or 007 in afterhours action shares of chipmaker qualcomm slipped nearly 7 after the company missed analysts expectations on fiscal thirdquarter revenue and guidance for the current period doordash added 42 after beating expectations on revenue wednesdays regular trading session saw a steep selloff that weighed the techheavy nasdaq composite down by more than 2 it marked the worst day since february for the index as tech stocks tumbled amid a spike in bond yields both the sp 500 and dow jones industrial average also closed lower fitch ratings cut the united states longterm foreign currency issuer default rating to aa from aaa late tuesday citing expected fiscal deterioration over the next three years as well as weakening governance previously stocks were posting a strong string of gains led by growth names sometimes markets need to digest a torrent of gains and this coupled with a choppy seasonal backdrop was poised for a pullback said quincy krosby chief global strategist for lpl financial fitch provided the rationale investors are turning their focus on thursday to tech bellwether apple and ecommerce giant amazon  as both will be posting results after the close thus far nearly 67 of the constituents in the sp 500 have issued their latest quarterly reports with about 81 of those companies beating expectations according to factset in the way of economic data traders will be gearing up for weekly initial jobless claims as well as durable goods orders the main event will be fridays july payrolls report