U.S. Stock Index Futures Little Changed

U.S. stock index futures showed little movement in evening trades on Thursday as investors anticipated significant technology earnings next week. While Wall Street indexes rose following positive earnings from Tesla Inc (NASDAQ:TSLA), they continued to suffer losses for the week due to ongoing concerns regarding the upcoming presidential election and expectations of slower rate cuts.

Geopolitical Concerns

Investor risk appetite was dampened by fears of escalating geopolitical tensions in the Middle East, particularly as Israel prepared to strike Iran.

S&P 500 Futures steadied at 5,847.25 points, while Nasdaq 100 Futures fell by 0.1% to 20,365.75 points by 19:30 ET (23:30 GMT). Dow Jones Futures remained steady at 42,591.0 points.

Mega Tech Earnings Due Next Week

The third-quarter earnings season is set to peak next week, with five of Wall Street’s “Magnificent Seven” companies scheduled to report earnings.

• Alphabet Inc (NASDAQ:GOOGL) – Tuesday
• Meta Platforms Inc (NASDAQ:META) – Wednesday
• Microsoft Corporation (NASDAQ:MSFT) – Wednesday
• Apple Inc (NASDAQ:AAPL) – Thursday
• Amazon.com Inc (NASDAQ:AMZN) – Thursday

These firms make up a significant portion of the market capitalization and are expected to influence broader market trends. Attention will be on whether artificial intelligence has significantly contributed to their earnings, especially given the increasing capital investments in this fast-evolving sector.

Positive results from Tesla this week provided a boost of optimism for the upcoming reports, as the stock surged nearly 22% on Thursday, though it fell 1% post-market.

Beyond the Magnificent Seven, various other major corporations are also set to report next week, including
– Advanced Micro Devices Inc (NASDAQ:AMD)
– Caterpillar Inc (NYSE:CAT)
– Visa Inc (NYSE:V)
– Ford Motor Company (NYSE:F)
– Uber Technologies Inc (NYSE:UBER)

The market’s focus will be on whether these corporate results can endure pressures from persistent inflation and high interest rates, following a mixed earnings performance in the previous week.

Wall Street Weekly Losses

Although Wall Street indexes increased on Thursday, they still recorded losses between 0.4% and 2.1% for the week, reflecting a fragile risk appetite. U.S. stocks faced some profit-taking after reaching record highs earlier in the month.

The S&P 500 rose 0.2% to 5,809.86 points, while the NASDAQ Composite gained 0.8% to 18,413.91 points on Thursday. In contrast, the Dow Jones Industrial Average lagged, declining 0.3% to 42,374.36 points, making it the weakest performer among its counterparts for the week.

Investor concerns were amplified by rising Treasury yields, as market participants readied themselves for a slower pace of rate cuts from the Federal Reserve. Additionally, the growing likelihood of a Donald Trump presidency compared to Kamala Harris led markets to brace for inflationary policies in the United States in the years ahead.