Wall Street futures hovered near the flatline on Wednesday, following a record-setting day for the Dow Jones Industrial Average, as market participants anticipated a pivotal round of corporate earnings led by Tesla.
As of 05:24 P.M. (GMT+7), Dow Jones futures increased by 18.30 points, or 0.04%, to 46,493.00 points, while S&P 500 futures added 9.50 points, up 0.14%, to 6,744.80 points. Nasdaq 100 futures, however, decreased slightly by 1.70 points, or 0.01%, to 25,125.40 points.
Netflix shares tumbled over 6% in premarket activity after the streaming firm’s quarterly report disappointed investors, falling short of analysts’ projections on both profit and revenue. Meanwhile, Mattel stock retreated roughly 7% as the company reported weaker-than-expected North American sales figures.
On Tuesday, robust earnings from blue-chip companies such as General Motors and Coca-Cola fueled the Dow’s rally, sending it to an intraday peak above 47,000 before it logged a record closing high.
Precious metals markets cooled after their recent surges, with gold and silver pulling back from all-time highs. At the same time, President Trump’s remarks added renewed uncertainty to the ongoing trade negotiations with China.
Market attention now turns to Tesla’s much-anticipated earnings release after Wednesday’s close, initiating a crucial phase for the so-called “Magnificent Seven” tech giants. Observers are particularly focused on commentary regarding the potential impact of the expiration of federal electric vehicle tax credits and updates on Tesla’s robotaxi developments.
As the federal shutdown persists, new economic data has been limited. Investors are awaiting Friday’s Consumer Price Index report for September, which is set to provide important guidance for financial markets ahead of the Federal Reserve’s policy meeting next week. Market consensus currently anticipates a 25 basis-point rate cut by the central bank.
