Stock futures slid on Wednesday evening, as Wall Street absorbed a fresh batch of earnings reports from megacap technology names.

S&P 500 futures lost 0.3%, and Nasdaq 100 futures fell 0.5%. Futures tied to the Dow Jones Industrial Average declined 27 points.

In after-hours action, Meta Platforms dropped 3% after missing the Street's expectations for user growth and warning that capital expenditures will rise in 2025. Microsoft's revenue guidance disappointed investors, dragging shares nearly 4% lower.

During regular trading Wednesday, the major averages posted modest losses. The S&P 500 declined 0.3%, while the Dow dropped 0.2%, and the Nasdaq Composite fell nearly 0.6%.

Investors also weighed the third-quarter U.S. gross domestic product reading, which showed that the economy grew at a 2.8% annualized rate, falling short of the 3.1% consensus forecast from Dow Jones.

Another market catalyst awaits on Thursday morning: the personal consumption expenditures price index for September. This also happens to be the Federal Reserve's preferred inflation indicator. Economists polled by Dow Jones expect that the PCE grew by 0.2% on a monthly basis and 2.1% from a year earlier.

This PCE reading, along with Friday's October payrolls report, will inform the Fed's interest rate decision on Nov. 7 when it ends its two-day policy meeting.

"Growth up, inflation down is precisely what you want to see," said Jamie Cox, managing director at Harris Financial Group. "The Fed doesn't need to be afraid of a stable and growing economy to normalize rates this cycle so long as disinflation persists."

Tech earnings continues on Thursday with results from tech giants Apple and Amazon. Uber, Merck and Intel are also slated to report.

On the economic data front, the weekly jobless claims report is out on Thursday morning.

Stocks making the biggest moves after hours

Check out some of the companies making headlines in extended trading:

Microsoft — The technology giant slid nearly 4% after its revenue guidance for the fiscal second quarter disappointed investors. Microsoft's outlook called for revenue to range between $68.1 billion to $69.1 billion. Analysts polled by LSEG sought $69.83 billion.

Booking Holdings — Shares of the online reservation company jumped almost 6%. In the third quarter, the company reported adjusted earnings of $83.39 per share and revenue of $7.99 billion, while analysts surveyed by LSEG expected $77.52 in earnings per share and $7.63 billion in revenue.

Starbucks — Shares ticked nearly 1% lower. The coffee chain said its global same-store sales dropped 7% in the fiscal fourth quarter, as demand in the U.S. and China sagged. Results in the period disappointed, with earnings coming in at 80 cents per share on revenue of $9.07 billion. Analysts polled by LSEG were looking for $1.03 per share in earnings and $9.36 billion in revenue.

Read the full list here.

— Brian Evans

Stock futures open lower

Stock futures were lower on Wednesday, as investors digested fresh earnings from technology companies including Meta Platforms and Microsoft.

S&P 500 futures ticked down 0.2%, while Nasdaq 100 futures were 0.3% lower. Dow Jones Industrial Average futures slipped 25 points, or 0.06%.

— Brian Evans