Investing.com — U.S. stock index futures were little moved in Thursday night trading as investors hunkered down ahead of next week’s flurry of major technology company earnings.
Wall Street indexes rose on strong earnings from Tesla Inc. (NASDAQ:), but remain in losses this week due to lingering fears about the upcoming presidential election and hopes for slower interest rate cuts.
Risk appetite was also overridden by concerns about the deteriorating geopolitical situation in the Middle East, as Israel prepares to strike against Iran.
It stabilized at 5,847.25 points, but fell 0.1% to 20,365.75 points by 19:30 ET (23:30 Japan time). It stabilized at 42,591.0 points.
Megatech’s financial results are scheduled to be announced next week.
The third-quarter earnings season peaks next week, with five of Wall Street’s so-called “Magnificent Seven” scheduled to report results.
Alphabet Inc. (NASDAQ:) is scheduled to report on Tuesday, followed by Meta Platforms Inc. (NASDAQ:) and Microsoft Corporation (NASDAQ:) on Wednesday. Apple Inc (NASDAQ:) and Amazon.com Inc (NASDAQ:) are then scheduled to report on Thursday.
These five companies account for a large portion of Wall Street’s overall market capitalization, and their earnings are likely to be a bellwether for the overall market. The focus will be on whether artificial intelligence proves to be a key revenue driver, especially as capital spending increases in fast-growing sectors.
Tesla’s strong results this week sparked optimism about its upcoming report. Tesla rose nearly 22% on Thursday, but fell 1% in aftermarket trading.
In addition to the Magnificent Seven, next week we’ll have other Walls including Advanced Micro Devices Inc. (NASDAQ:), Caterpillar Inc. (NYSE:), Visa Inc. (NYSE:), and Ford Motor Company (NYSE:). Intensive reports on major companies in the city are scheduled. , and Uber Technologies, Inc. (NYSE:). Corporate earnings have been mixed over the past week, but the focus will be on whether they were able to weather headwinds from persistent inflation and high interest rates.
Wall Street Nurse Weekly Losses
Wall Street indexes rose on Thursday but were still down between 0.4% and 2.1% this week as risk appetite remained fragile. With US stocks hitting record highs one after another in early October, there was some profit-taking activity.
It rose 0.2% on Thursday to 5,809.86 points and rose 0.8% on Thursday to 18,413.91 points. It was a laggard and fell 0.3% to 42,374.36 points, making it the worst performer among its peers this week.
Markets were spooked by rising U.S. Treasury yields as investors expected the Federal Reserve to slow its rate of rate cuts. With Donald Trump becoming more likely to become president than Kamala Harris, markets have signaled their stance on U.S. inflation policy over the next few years.
