US Futures Inch Up Amid Earnings Reports and Geopolitical Tensions

U.S. stock futures were mixed on Wednesday, as investors analyzed the latest earnings reports and remained cautious amidst ongoing trade tensions.

Futures tied to the Dow Jones Industrial Average lost 77 points, or 0.23%, while S&P 500 futures slipped 0.29%. Nasdaq 100 futures dropped 0.5%. However, later in the day, the S&P 500 futures were up over six and a half points, or 0.25%, while Dow futures increased 53 points, or 0.21%. The tech-heavy Nasdaq 100 futures rose 18 points or 0.27%.

Investors are looking ahead to a flurry of earnings releases, with Morgan Stanley, Abbott Laboratories, US Bancorp, Textron, and Freds Inc expected to report before the morning bell. After the closing bell, American Express, Alcoa, Steel Dynamics Inc, and United Rentals Inc will release their first quarter earnings results.

Geopolitical tensions weighed on investors’ minds, as U.S. President Donald Trump said late on Tuesday that he wasn’t interested in the Trans-Pacific Partnership deal after flirting with joining the trade agreement again last week. Trump is hosting the second day of a meeting with Japanese Prime Minister Shinzo Abe in Florida, where the two are expected to talk about trade and stability in the region.

In Europe, stocks were mixed with Germany’s DAX falling 14 points or 0.11%, while in France the CAC 40 increased 12 points or 0.24%, and in London, the FTSE 100 was up 53 points or 0.74%. The pan-European Euro Stoxx 50 gained four points or 0.12%, while Spain’s IBEX 35 surged 21 points or 0.22%.

In commodities, gold futures fell 0.02% to $1,349.20 a troy ounce, while crude oil futures increased 1.19% to $67.31 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.17% to 89.37.

Overall, the market continues to show resiliency despite macroeconomic headwinds, and investors are monitoring the latest earnings reports closely to gauge the impact on stock prices.