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Stock futures pulled back for another day on Thursday as investors a slew of digested quarterly earnings releases, including those from Tesla and IBM.
Futures for the Dow Jones Industrials let go of 87 points, or 0.2%, to 46,694.
Futures for the S&P 500 dipped 7.25 points, or 0.1%, to 6,729.75.
Futures for the NASDAQ fell 43.5 points, or 0.2%, to 24,995.75.
Tesla, which kicked off reports from the “Magnificent Seven” megacap tech group, saw shares dip 3% on the back of mixed third-quarter results. IBM shed about 6% after the tech company beat Wall Street estimates but reported in-line software revenue.
Meanwhile, oil prices rose Thursday after the Trump administration imposed additional sanctions on Russia’s two biggest crude companies due to the country’s “lack of serious commitment to a peace process to end the war in Ukraine.”
Investors continue to watch earnings releases from the biggest U.S. companies, which many believe could be make-or-break for the current bull market rally. More than three-quarters of S&P 500 companies reporting so far have exceeded earnings expectations.
Trade is also in focus. President Donald Trump said Wednesday evening that his upcoming meeting with Chinese President Xi Jinping is “scheduled,” easing some fears about U.S.-China relations that had put markets under pressure on Wednesday.
In Japan, the Nikkei 225 stumbled 1.9% Thursday, while in Hong Kong, the Hang Seng -moved ahead 0.7%.
Oil prices strengthened $3.41 to $61.91 U.S. a barrel.
Gold prices brightened $65.40 to $4,130.80 U.S. per ounce.
