Stock Market Today: Dow Jones, S&P 500 Futures Slide Amid US-China Trade Tensions—Tesla, IBM, American Airlines In Focus

Benzinga

U.S. stock futures were swinging on Thursday following Wednesday’s declines. Futures of major benchmark indices were lower.  A wave of disappointing earnings guidance and escalating U.S.-China trade tensions rattled investor confidence. The Donald Trump administration is considering new restrictions on exports to China that would target products either made with or containing U.S.-developed software.  Additionally, the administration is reportedly in talks with several U.S. quantum computing companies to take ownership stakes in exchange for federal funding.

Transcript

00:00all right futures under a bit of pressure here today S&P futures down 0.2 percent it's notable

00:12this was actually up higher in the morning but has retreated ahead of the open here today

00:17Dow futures down 0.22 percent and the Nasdaq futures down 0.3 percent here ahead of the open

00:25let's go ahead and take a look at some cues from last session most sectors on the S&P 500 closed

00:31on a negative note with communication services industrials and consumer discretionary stocks

00:36recording the biggest losses on Wednesday U.S. futures were swinging on Thursday following

00:43Wednesday's declines futures of major benchmark indices were lower and are lower here still

00:49a wave of disappointing earnings guidance and escalating U.S. China tensions rattled investors

00:55confidence the Trump administration is considering new restrictions on exports to China that would

01:01target products either made with or containing U.S. developed software additionally the administration

01:07is reportedly in talks with several U.S. quantum computing companies to take ownership stakes

01:13in exchange for federal funding we'll talk about that a little bit more here in a sec meanwhile the

01:1810-year treasury bond yielded 3.98 percent still holding under the four percent level and the two-year bond

01:24was at 3.46 percent now we do have some stocks in focus these are going to be a lot of the earnings

01:30plays here Tesla fell 3.04 percent in the pre-market on Thursday after reporting better than expected

01:37revenue for the third quarter while earnings missed estimates international business machines or IBM

01:45dropped 7.14 percent despite reporting better than expected financial results for the third quarter after the market

01:52closed on Wednesday IBM also said it now expects constant currency revenue growth of more than five percent for full year

02:002025 up from the prior guide of at least five percent American Airlines is our third stock in focus here that's ticker AAL it was

02:091.41 percent higher as analysts expect a quarterly loss of 28 cents per share and revenue of 13.63 billion

02:19American Airlines trading higher here in the pre-market actually right near the highs of the pre-market your pre-market

02:25high 1268. Medspace Holdings is the next stock on our list here that's ticker MEDP that surged 18.52 percent after it reported

02:35third quarter revenue of 659.9 million and earnings of 386 per share both surpassing analyst estimates

02:44Ford Motor Company rounds out our list here this morning shares were unchanged as it's scheduled to report

02:50earnings after the closing bell here today analysts expect earnings of 36 cents per share on revenue of 43.08 billion

03:00the

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