Stock Market Today: S&P 500, Dow Jones, Nasdaq Futures Inch Lower—Tesla Q3 Earnings In Focus

Benzinga

Investors on Wednesday will be closely watching the earnings results of several prominent companies, such as Tesla Inc. (NASDAQ:TSLA), SAP SE (NYSE:SAP) and International Business Machines Corp. (NYSE:IBM), among several others.  Meanwhile, the 10-year Treasury bond yielded 3.957% and the two-year bond was at 3.449%. The CME Group's FedWatch tool‘s projections show markets pricing a 98.9% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.

Transcript

00:00all right futures near flattish here today s&p futures are literally flat 0.00 percent change

00:13the dow futures are down by 0.05 percent and the nasdaq futures are down just under a quarter of a

00:21percent at minus 2.3 percent take a look at some cues from last session really there wasn't a whole

00:27lot to go on the markets had a fairly mixed performance on tuesday with no clear trend

00:33visible across most of the sectors or indices throughout the day and indeed it actually felt

00:38fairly range bound the only key thing is that we tested that previous all-time high of 672.99 that

00:46we've been tracking for a while we printed that as the dead intraday high yesterday and then backed

00:53off from it so we weren't even able to take that out at least not yet we'll see where we are here

00:58today currently spy is currently sitting at 671.51 here in the pre-market so we're only a dollar 50

01:05away from that level this comes amid president trump hinting at a de-escalation in the tariff

01:11situation with india following his conversation with india prime minister neandre moody trump called

01:18moody a quote great person and a great friend of mine over the years end quote while addressing the

01:23media from the oval office on tuesday investors on wednesday will be closely watching earnings

01:29results from several prominent businesses such as tesla sap and ibm among several others all of

01:36those reports come in the after hours the 10-year treasury bond is still holding under four percent

01:41it yielded 3.957 percent and the two-year bond was at 3.449 percent now we do have some stocks in

01:49focus today as always tesla is absolutely going to be in focus that was up 0.07 percent overnight ahead

01:56of the company's much anticipated third quarter results which we get after the market close on

02:02thursday sap se ticker sap the german software giant is set to release third quarter earnings after

02:11the market closes on wednesday stock is currently down 1.74 percent in the overnight trade little bit of

02:16weakness uh here in the morning ibm as mentioned as well shares were up 0.22 percent in the overnight

02:23trade ahead of the company's third quarter results after the market closes today on wednesday

02:27and thermo fisher uh is rallying by 2.17 percent in the overnight trade that was just hours before the

02:36third quarter results came out we've actually got those thermo fisher uh q3 adjusted eps of 579 that beat

02:43the 549 estimate and sales of 11.122 billion beat the estimate of 10.9 billion so thermo fisher ticker

02:52tmo uh that's a beat on the top and the bottom line that is bid at 570 here in the pre-market closing

03:00price was 557.99 so we're up just about 10 bucks here on very light volume this morning next year is going

03:07to be at and t uh at and t shares were up 0.23 percent in the pre-market ahead of the company's third

03:14quarter earnings release on wednesday before the market opens we've actually got that report uh at

03:20and t here holding at 2626 after closing at 2605 so it's up fractionally here at and t's adjusted q3 eps

03:28of 54 cents is in line with expectations and sales of 30.709 billion misses the estimate of 30.87 billion

03:39so in line on eps miss on sales stock is fractionally higher here this morning

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