Source: Sharecast
As of 1230 BST, Dow Jones futures were down 0.08%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.05% and 0.20% lower, respectively.
The Dow closed 218.16 points higher on Tuesday, propelling the blue-chip to a new record high in what was a mixed session for major indices.
Trade relations between the US and China remained in focus ahead of the bell on Wednesday after Donald Trump commented on his expected meeting with Chinese President Xi Jinping, noting that "maybe it won’t happen", creating even greater uncertainty regarding tensions between Washington and Beijing that could potentially lead to higher tariff rates and semiconductor industry headwinds.
In the corporate space, Mattel reported weaker-than-expected Q3 results after the close, driven by lower sales in its North American unit, while Netflix's quarterly earnings missed Wall Street estimates due to an ongoing dispute with Brazilian tax authorities.
AT&T said Q3 revenues had grown 1.6% to $30.7bn, driven by its wireless and fiber offerings, while Hilton Worldwide slashed its forecast for 2025 room revenue as a result of weak travel demand, even as total Q3 group revenues and adjusted profits came in ahead of Wall Street expectations, and Boston Scientific reported Q3 results that exceeded analyst expectations, driven by a strong performance across its business segments.
Still to come, Tesla and IBM will issue their latest quarterly earnings figures after the close.
On the macro front, US mortgage applications inched lower in the week ended 17 October, according to the Mortgage Bankers Association, marking the fourth consecutive weekly decline. The MBA's overall market index fell by 0.3% last week, following a 1.8% drop the week before and a 4.7% decline previously. Applications to refinance a mortgage, which are more sensitive to short-term interest rate changes, increased by 4% over the week, while applications to purchase a home fell by 5% week-on-week.
Reporting by Iain Gilbert at Sharecast.com
