United States stock futures hovered near the flatline on Tuesday night (Wednesday AEDT) following two consecutive winning sessions for the major benchmarks.
By 10:50 am AEDT (11:50 pm GMT), Dow futures, S&P futures and Nasdaq 100 futures were all trading within a narrow range of ±0.1%.
In extended trading, HP Inc. slid 5.4% after issuing softer guidance and announcing plans to cut 10% of its workforce.
While fiscal fourth-quarter results beat expectations, the company said it would reduce around 6,000 jobs as it accelerates its adoption of artificial intelligence.
Urban Outfitters jumped about 17.3% after reporting strong third-quarter results. The retailer posted earnings per share (EPS) of $1.28, above the $1.20 forecast, on revenue of $1.53 billion, beating expectations for $1.49 billion.
Dell Technologies gained 2.9% despite reporting slightly weaker-than-expected third-quarter revenue.
The company provided an upbeat fourth-quarter outlook, underpinned by accelerating AI-related sales.
Workday fell 6.6% despite beating estimates on both revenue and earnings. The company posted adjusted earnings of $2.32 per share on revenue of $2.43 billion, but shares were pressured by an operating loss.
NetApp rose 4.6% after delivering second-quarter results and guidance that exceeded market expectations. EPS came in at $2.05, beating the $1.88 estimate, while revenue of $1.71 billion topped expectations of $1.69 billion.
During Tuesday's regular session, U.S. stocks closed higher, with the Dow Jones Industrial Average adding more than 660 points, or 1.4%, marking its third straight gain.
Tech stocks also helped lift the market, with Alphabet reaching a fresh record high following a report that Meta Platforms is considering adopting the Google parent’s TPU chips in 2027. Nvidia, meanwhile, shed more than 2.5%.
Investors continue to monitor developments that may influence the Federal Reserve’s next interest rate decision. Traders are pricing in an 85% chance of a 25-basis-point cut in December, according to the CME Group FedWatch Tool.
Despite the recent rally, November has been a challenging month for equities. All three major U.S. indices are on track for monthly declines as concerns about stretched valuations cool enthusiasm for some high-flying tech names.
The S&P 500 is down roughly 1.1% for the month, while the Nasdaq Composite has fallen nearly 3%. The Dow is down about 1% month-to-date.
