As earnings season picked up momentum and Wall Street anticipated important financial data, stock futures declined on Wednesday.
92 points, or 0.3%, were lost in the Dow Jones Industrial Average futures. S&P 500 and Nasdaq 100 futures both experienced losses of 0.4% and 0.5%, respectively.
On weak forecast, United Airlines shares dropped more than 4% in premarket trade, while Procter & Gamble shares jumped 1% after the company topped analyst expectations for the quarter. After the market closes on Wednesday, Netflix and Tesla are scheduled.
After a quiet trading session, stocks are now rising. The S&P 500 dipped 0.01% to 4,373.20 while the Dow Jones Industrial Average increased around 13 points, or 0.04%, to 33,997.65. With a decline of 0.25% to 13,533.75, the Nasdaq Composite underperformed.
Bond rates spiked on stronger-than-expected September retail sales, which prompted Tuesday’s movements. The yield on the 10-year U.S. Treasury note reached its highest level since October 6. The U.S. revealed intentions to tighten limits on AI chip shipments to China, which led to a drop in the value of semiconductor stocks like Nvidia and Advanced Micro Devices.
Source (CNBC)
