U.S. stock futures traded mixed early Thursday as investors assessed a varied set of quarterly results and ongoing trade tensions. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were up 0.23% and 0.15%, respectively, while those on the Dow Jones Industrial Average (DJIA) were down 0.12% at 4:32 a.m. EDT on October 23.
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During Wednesday’s regular trading session, the three major indexes ended lower, due to a broader tech sector sell-off amid shifting government policies. The S&P 500, the Dow Jones, and the Nasdaq Composite fell 0.53%, 0.71%, and 0.93%, respectively.
The Trump administration is reportedly considering placing new curbs on software exports to China, covering everything from advanced computing systems to artificial intelligence tools. The announcement weighed on tech stocks, including AMD (AMD), D-Wave Computing (QBTS), and Adobe (ADBE).
Earnings added further pressure on market sentiment. Tesla (TSLA) beat sales but missed earnings expectations, pushing its shares lower after-hours. Similarly, IBM (IBM) shares dropped despite beating top and bottom-line expectations due to disappointing guidance.
With the ongoing federal government shutdown, no major economic reports are scheduled for release today. Investors are instead focused on the upcoming Consumer Price Index (CPI) report, due Friday, expected to provide insight into inflation and guide expectations for upcoming Federal Reserve policy decisions.
Turning to the earnings season, several notable companies are set to report results today, including Intel (INTC), Ford (F), Honeywell (HON), T-Mobile US (TMUS), and American Airlines (AAL).
Notably, the U.S. 10-year Treasury yield was up, floating near 3.98%. WTI crude oil futures were trending higher, hovering near $60.57 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $4,107 per ounce on Thursday.
Elsewhere, European stocks opened mostly higher on October 23, on strong corporate earnings and rising investor confidence. Meanwhile, the U.S. and European Union announced new sanctions on Russian oil exports.
Asia-Pacific Markets Traded Mixed Today
Asia-Pacific markets traded mixed on Thursday as the White House hinted that a meeting between the U.S. and Chinese Presidents is “scheduled.”
Hong Kong’s Hang Seng index advanced 0.60%. In China, the Shanghai Composite rose 0.22%, and the Shenzhen Component gained 0.35%. Meanwhile, Japan’s Nikkei dropped 1.35%, and the Topix lost 0.39%.
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