U.S. stock futures declined on Wednesday after Tuesday’s advances amid trade war concerns and major earnings reports. Three benchmark indices were trading lower, whereas the gauge tracking small-cap stocks, Russell 2000 rose marginally.
Walt Disney Co. (NYSE:DIS), Qualcomm Inc. (NASDAQ:QCOM), Uber Technologies Inc. (NYSE:UBER), and TotalEnergies SE (NYSE:TTE) are a few major companies expected to report earnings today.
The 10-year Treasury yield stood at 4.47%, while the two-year yield was at 4.19%. According to the CME Group's FedWatch tool, there is an 83.5% chance that the Federal Reserve will keep interest rates unchanged for the March meeting.
Futures
Change (+/-)
Nasdaq 100
-0.92%
S&P 500
-0.55%
Dow Jones
-0.23%
Russell 2000
0.06%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ) both experienced negative premarket trading on Wednesday. SPY fell 0.51% to $598.73, and QQQ declined 0.87% to $519.92, according to Benzinga Pro data.
Cues From The Last Session
Tech, Energy, and Communication Services sectors led U.S. stock gains Tuesday, despite geopolitical tensions and trade uncertainties. Utilities and consumer staples declined.
Spotify Technology SA (NYSE:SPOT) shares jumped 13% on strong earnings, while Palantir Technologies Inc. (NASDAQ:PLTR) soared 24% on better-than-expected results.
China retaliated against U.S. tariffs with restrictions on mineral exports and tariffs on energy products. Job openings fell to 7.6 million, below estimates, and factory orders declined 0.9%.
Index
Performance (+/-)
Value
Nasdaq Composite
1.35%
19,654.02
S&P 500
0.72%
6,037.88
Dow Jones
0.30%
44,556.04
Russell 2000
1.41%
2,290.20
Insights From Analysts
According to the analysts at BlackRock, the recent artificial intelligence developments raise questions about AI investment and revenue.
As markets learn about the ongoing transformation, BlackRock is using a framework as key for tracking big ...