United States stock futures were little changed on Tuesday night (Wednesday AEST) as investors weighed higher oil prices following an attempted missile attack by Iran on U.S. forces in the Middle East, while preparing for a key Federal Reserve interest rate decision and major corporate earnings reports.
By 10:10 am AEST (12:10 am GMT), Dow futures, S&P 500 futures and Nasdaq-100 futures were higher by 0.03%, 0.4% and 0.8%, respectively.
Several companies posted notable share price movements following their latest earnings reports.
Ford Motor shares rose 4.4% after the automaker reported second-quarter adjusted earnings above expectations and lifted its 2026 earnings outlook.
Ford reported adjusted earnings per share (EPS) of US$0.42, beating forecasts of $0.36, while revenue came in at $48.3 billion, ahead of estimates of $47.24 billion.
Seagate Technology shares advanced 7.1% after the data storage company delivered stronger-than-expected results and issued an upbeat outlook.
The company reported EPS of $5.71, above expectations of $5.10, on revenue of $3.63 billion, compared with forecasts of $3.5 billion.
Seagate expects first-quarter adjusted earnings of around $7.30 per share, significantly above analyst estimates of $5.80 per share. Revenue is projected at approximately $4.1 billion, ahead of expectations for $3.75 billion.
Meanwhile, CoStar Group shares fell 13.2% after the real estate marketplace operator reported revenue below market expectations.
The company posted EPS of $0.31, ahead of forecasts of $0.29, but revenue of $925 million missed estimates of $928.81 million.
Meanwhile, oil prices climbed after U.S. Central Command said Iranian forces launched multiple ballistic missiles targeting American military positions in the region.
In a social media post, CENTCOM said the Islamic Revolutionary Guard Corps launched “multiple ballistic missiles in an attempted surprise attack on U.S. forces based in the Middle East”. The missiles were successfully intercepted, according to the military command.
West Texas Intermediate (WTI) crude futures gained around 4% to trade near $82 a barrel following the incident.
Investors are now awaiting the Federal Reserve's interest rate decision and subsequent press conference with Chairman Kevin Warsh on Wednesday afternoon.
Fed funds futures traders are pricing in a nearly 70% probability that the central bank will leave rates unchanged at the current target range of 3.5% to 3.75%, according to the CME Group FedWatch Tool.
Before the Fed announcement, investors will monitor earnings reports from Procter & Gamble and Humana before the opening bell.
Later in the session, results from major technology companies including Microsoft, Meta Platforms and chipmaker Qualcomm will be released, with investors closely watching whether artificial intelligence spending continues to support growth.
