United States stock futures were steady on Tuesday night (Wednesday AEDT) following a record-setting session for the Dow Jones Industrial Average, as investors weighed a surge of corporate earnings and looked ahead to major tech results later in the week.
By 9:25 am AEDT (10:25 pm GMT), Dow futures, S&P 500 futures, and Nasdaq 100 futures were each trading within a narrow ±0.1% range.
The quiet moves followed a busy evening for corporate earnings releases.
Netflix fell 6.3% in after-hours trade after missing Wall Street’s profit expectations. The streaming giant posted adjusted earnings of $5.87 per share for the third quarter, below forecasts of $6.96, though revenue of $11.51 billion met analyst estimates.
The company cited an ongoing dispute with Brazilian tax authorities as a drag on results.
Western Alliance gained 3% after reporting better-than-expected quarterly results. The regional bank earned $2.28 per share on revenue of $938 million, surpassing expectations for $2.08 per share and $890 million, respectively.
Texas Instruments dropped 8% after disappointing earnings and weak fourth-quarter guidance. The chipmaker reported earnings of $1.48 per share, missing estimates of $1.49, and forecast Q4 profit between $1.13 and $1.39 per share, below consensus expectations of $1.41.
Capital One rose 4% after delivering a major earnings beat, posting profits of $5.95 per share on revenue of $15.36 billion. Markets had expected $4.38 per share in earnings and $15.08 billion in revenue.
DraftKings jumped 4.7% after announcing the acquisition of the predictions platform Railbird.
Beyond Meat surged 26.8% in extended trading, adding to its extraordinary 146% rally during Tuesday’s session after announcing a new distribution deal with Walmart to expand across more U.S. stores.
Intuitive Surgical soared 15.9% after reporting third-quarter results that easily topped expectations, with adjusted earnings of $2.40 per share on revenue of $2.51 billion versus forecasts for $1.99 per share and $2.41 billion in revenue.
Mattel dropped 6.8% after disappointing investors with weaker-than-expected earnings. The toymaker posted adjusted earnings of 89 cents per share on revenue of $1.74 billion, below estimates for $1.06 per share and $1.83 billion in revenue.
Earlier in the session, strong results from companies such as Coca-Cola helped lift the Dow above 47,000 for the first time before the index settled just below that milestone at a record close.
Despite the strong showing from traditional companies, Major U.S. benchmarks finished mixed on Tuesday, as the S&P 500 ended little changed, and the Nasdaq Composite finished modestly lower.
Tesla is set to report results after the bell on Wednesday, marking the first of the closely watched “Magnificent Seven” megacap tech companies to release third-quarter earnings.
Attention will also turn to Friday’s September consumer price index report, expected to offer critical insight into inflation trends ahead of the Federal Reserve’s next policy meeting.
The report takes on added significance amid the ongoing U.S. government shutdown, which has halted most other economic data releases.
