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Heavy on Snapchat Guidance

EQUITIES

A heavy start for e-minis, with disappointing guidance from tech name Snapchat the probable cause here. NASDAQ 100 e-minis shed over 1.5% vs. settlement as of typing, with the S&P 500 contract ~1.0% softer. Snapchat fell ~30% after hours, after the company suggested that Q2 adjusted EBITDA and revenue would come in below the low end of the company’s previous guidance range. Note that late NY trade saw the space look through comments from Russian Foreign Minister Lavrov as he pointed towards the expedition of deeper Sino-Russian ties, with any Western ideas re: re-establishing ties requiring Russian thought, based upon need.

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A heavy start for e-minis, with disappointing guidance from tech name Snapchat the probable cause here. NASDAQ 100 e-minis shed over 1.5% vs. settlement as of typing, with the S&P 500 contract ~1.0% softer. Snapchat fell ~30% after hours, after the company suggested that Q2 adjusted EBITDA and revenue would come in below the low end of the company’s previous guidance range. Note that late NY trade saw the space look through comments from Russian Foreign Minister Lavrov as he pointed towards the expedition of deeper Sino-Russian ties, with any Western ideas re: re-establishing ties requiring Russian thought, based upon need.