U.S. equity futures retreated Wednesday morning, reversing gains from the prior session as market participants prepared for another flurry of quarterly earnings from leading technology and industrial firms.
At 4:38 p.m. (Bangkok Time), contracts tied to the Dow Jones Industrial Average edged down 0.05%, while S&P 500 futures slipped 0.24%. Nasdaq-100 futures registered a steeper drop, falling 0.65% and underperforming the broader market after stocks rallied Tuesday.
On Tuesday’s regular session, U.S. benchmark indices had ended a three-day losing streak, buoyed by earnings results from blue-chip names such as 3M and General Motors that surpassed market forecasts. The rebound was further supported by a notable advance in semiconductor shares, with the VanEck Semiconductor ETF registering a 4% gain as investors shifted back into companies associated with artificial intelligence.
On the trade front, President Trump has signaled intentions to transition some expiring temporary tariffs to longer-term measures, potentially introducing a 100% levy on imported generic pharmaceuticals. Additionally, a new 25% tariff targeting goods from Brazil was instituted on Wednesday.
Separately, Defense Secretary Pete Hegseth informed lawmakers that U.S. expenditures related to the ongoing war with Iran have reached $37.5 billion, as hostilities have intensified in recent days.
Attention now turns to a series of earnings announcements scheduled for the day ahead. Market participants will monitor reports from ServiceNow, International Business Machines, Tesla, Texas Instruments, Alphabet, and AT&T for guidance on trends including AI investment, cloud services demand, and broader corporate technology spending, as well as outlooks for the remainder of the year.
