U.S. stock futures remained mostly unchanged on Wednesday following a historic trading session for the Dow Jones Industrial Average, as investors awaited an important wave of earnings reports, particularly from Tesla (TSLA).
Futures for both the Dow Jones and the S&P 500 showed minimal movement, while contracts for the tech-focused Nasdaq 100 experienced a slight decline of 0.1%. In premarket trading, Netflix (NFLX) saw its shares plummet over 6% after the company reported earnings that fell short of profit and revenue expectations. Similarly, Mattel (MAT) experienced a downturn, with its shares dropping around 7% due to disappointing North American sales figures.
On Tuesday, the Dow reached a new intraday record above 47,000, ultimately closing at an unprecedented high, buoyed by solid earnings reports from major companies like General Motors (GM) and Coca-Cola (KO). However, fluctuations in commodities such as gold and silver seem to have tempered these record gains. Additionally, recent comments from President Trump have introduced new uncertainties surrounding trade negotiations with China.
As investors turn their focus to Tesla’s results expected later in the day, the market anticipates critical insights into the impact of the federal electric vehicle tax credit expiration and the company’s robotaxi rollout. Meanwhile, official economic data remains limited amid the ongoing federal shutdown, with the September Consumer Price Index report slated for release on Friday, which will be closely watched as it could influence expectations for the Federal Reserve’s policy decisions next week. Traders are widely predicting a 25-basis-point rate cut at that meeting.
With the next phase of earnings reports underway, including the highly anticipated updates from the “Magnificent Seven,” the market dynamics remain poised for potential shifts influenced by both economic indicators and corporate performances.