Stock futures were little changed Wednesday morning after a record-setting session powered by strong corporate earnings.
Futures for the Dow Jones Industrials dipped 35 points, or 0.1%, to 47,100.
Futures for the S&P 500 fell 2.75 points to 6,770.50.
Futures for the NASDAQ slumped 44.75 points, or 0.2%, to 25,250.
Traders pored through a flurry of new earnings reports. Netflix shares slumped 6% after the company posted an earnings miss, while Intuitive Surgical shares rallied about 16% on the back of its strong earnings and revenue results.
Strong quarterly results given earlier from companies such as Coca-Cola had powered the Dow Jones Industrial Average to a fresh high above 47,000 at one point Tuesday. The 30-stock index closed the session just below that mark at a record high.
The S&P 500 was relatively unchanged to end the day, meanwhile, and the NASDAQ finished slightly lower as some risk-on technology names lost steam. President Donald Trump commented about his expected meeting next week with Chinese President Xi Jinping, noting that “maybe it won’t happen. That prompted uncertainty about trade tensions between the U.S. and China that could lead to higher tariff rates and issues that could impact the semiconductor industry.
Still, investors are hopeful that the flurry of upcoming earnings reports could be the next catalyst that U.S. equities need to keep rallying.
Tesla’s earnings expected Wednesday after the bell will kick off highly-awaited reports from the “Magnificent Seven” megacap tech group. More than three-quarters of the S&P 500 companies that have posted results so far have beaten expectations,
In Japan, the Nikkei 225 gained just more than eight points Wednesday, while in Hong Kong, the Hang Seng declined 0.9%.
Oil prices made gains of $1.12 to $58.36 U.S. a barrel.
Gold prices dulled $63.80 to $4,245.30 U.S. per ounce.
