Equity futures are indicating a lower open to trading on Wall Street in the Wednesday session. This follows a day that saw stocks at one point fall by as many as 500 Dow points on disappointing earnings numbers from a handful of Dow components.
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Dow Jones futures were down 0.62 percent. The S&P 500 fell 0.63 percent and the Nasdaq Composite dropped 0.74 percent.
A slew of big names report results on Wednesday, starting with Dow components Boeing in the morning and Visa and Microsoft posting in the afternoon. Ahead of the opening bell we’ll also hear from telecom giant AT&T, global shipper UPS, and defense giants General Dynamics and Northrop Grumman.
After the closing bell watch for numbers from the aforementioned Microsoft, along with car makers Ford and Tesla, payments processor Visa, life and health insurer Aflac and home appliances giant Whirlpool.
On the economic calendar, traders will get a look at September’s new home sales.
Stocks pared heavy losses Tuesday after disappointing profit forecasts and geopolitical tensions rattled Wall Street.
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The Dow Jones Industrial Average dropped 125.98 points, or 0.5 percent, to 25,191.43. The S&P 500 was down 15.19 points, or 0.55 percent, at 2,740.69. The Nasdaq Composite fell 31.09 points, or 0.42 percent, to 7,437.54.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 25191.43 | -125.98 | -0.50% |
| SP500 | S&P 500 | 2740.69 | -15.19 | -0.55% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7437.5387 | -31.09 | -0.42% |
Caterpillar and 3M took a hit after the companies released their quarterly results. 3M earned $2.58 a share, below forecasts, and the company also cut its earnings guidance for 2018. Caterpillar’s quarterly results beat Wall Street expectations but their guidance disappointed.
McDonald’s reported third-quarter earnings of $2.10 per share on $5.37 billion in revenue. Analysts had expected the company to post earnings of $1.99 per share on $5.32 billion in revenue.
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In China, the Shanghai Composite was up 1 percent.
Hong Kong’s Hang Seng gained 0.25 percent.
Japan’s Nikkei added 0.5 percent.
In Europe, London’s FTSE opened up 0.2 percent, Germany’s DAX was also gaining 0.2 percent, and France’s CAC gained 0.5 percent.
