Stock market today: Dow, S&P 500, Nasdaq futures slip as Tesla falls after earnings

US stock futures dipped Wednesday night as Wall Street parsed the latest batch of quarterly results from closely watched companies, including Tesla (TSLA) and IBM (IBM).

Futures attached to the Dow Jones Industrial Average (YM=F) fell roughly 0.2%. Futures attached to the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 wavered below the flatline.

A flood of third-quarter earnings arrived after the closing bell. Tesla shares fell over 3.5% after the EV maker posted mixed third-quarter results, kicking off the “Magnificent Seven” earnings cycle. IBM stock dropped around 6.5%, as stronger-than-expected profits were offset by in-line software revenue that nevertheless disappointed investors.

Trade developments continue to move markets, too. President Trump said Wednesday that a long-anticipated meeting with Chinese President Xi Jinping is “scheduled,” offering a bit of reassurance to markets unsettled by rising US-China tensions. Stocks came under pressure earlier in the day after Treasury Secretary Scott Bessent suggested the White House could expand export restrictions on China-bound software products by Nov. 1.

Investors are eyeing the release of inflation data on Friday, hoping for clues about the Federal Reserve’s next moves. Markets broadly expect another quarter point rate-cut in next week’s meeting.

Finally, in corporate earnings, T-Mobile (TMUS) and Blackstone (BX) report earnings before market open on Thursday, while Intel (INTC) takes center stage after the bell. Procter & Gamble (PG) highlights the week’s end on the corporate front, releasing earnings on Friday.