US Stock Futures Stay Flat as Earnings Reports Loom

Overview of US Stock Futures

US stock futures were largely flat on Wednesday as investors prepared for a wave of quarterly earnings reports, including Tesla. As of 03:31 ET (07:31 GMT), the Dow futures were down 115 points (0.3%), while S&P 500 and Nasdaq 100 futures showed little movement.

Tesla Earnings Report Anticipated

Tesla's upcoming earnings report is anticipated to make waves in the market. The company's shares have struggled this month, especially after the recent unveiling of its robotaxi, which left investors wanting more details. Year-to-date, Tesla shares have declined by approximately 12%, contrasting sharply with the S&P 500’s 23.4% increase.

Texas Instruments Surprises Investors

Texas Instruments reported a third-quarter profit exceeding expectations, with earnings per share at $1.47 on revenues of $4.15 billion. This positive outcome drove a rise in its share price during after-hours trading, highlighting growth in its automotive product segment, particularly in the electric vehicle market.

Starbucks Faces Challenges

Starbucks shares fell in after-hours trading after the company suspended its financial guidance for the upcoming fiscal year. Preliminary results indicated declines in same-store sales and net revenue, attributed to lower demand for premium items. New CEO Brian Niccol emphasized the need for a strategic overhaul to regain growth.

Conclusion

Amidst these developments, oil prices are also feeling the pressure, with Brent crude dropping 0.6% to $75.62 per barrel. Increased US crude inventories were reported, raising concerns about fuel demand, while Middle East tensions continue to exert influence on market conditions.