Dow Futures Little Changed As Investors Turn Cautious After Trump’s China Comments: TSLA, NFLX, DKNG, GEV Among Stocks To Watch

• While Dow Jones futures were up by 0.01% at the time of writing, the S&P 500 futures rose 0.02%.
• Asian markets ended Wednesday’s trading session on a largely negative note, with the Hang Seng index declining the most at 0.91%.

U.S. stocks appear set for a cautious opening on Wednesday after President Donald Trump’s comments on China suggested that the meeting with his Chinese counterpart, President Xi Jinping, may not take place.

“Maybe it won’t happen. Things can happen where, for instance, maybe somebody will say, ‘I don’t want to meet, it’s too nasty.’ But it’s really not nasty. It’s just business.”

— Donald Trump, U.S. President

Futures Edge Up

While Dow Jones futures were up by 0.01% at the time of writing, the S&P 500 futures rose 0.02%, while the tech-heavy Nasdaq 100’s futures fell 0.12%. Futures of the Russell 2000 index were down 0.2%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up by 0.13% at the time of writing, Invesco QQQ Trust (QQQ) gained 0.02% on Wednesday morning, and SPDR Dow Jones Industrial Average ETF Trust (DIA) rose 0.03%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘extremely bearish’ territory.

Asian Markets Largely Negative

Asian markets ended Wednesday’s trading session on a largely negative note, with the Hang Seng index declining the most at 0.91%, followed by the TWSE Capitalization Weighted Stock index at 0.37%, the Shanghai Composite at 0.07%, and the Nikkei 225 at 0.02%.

The KOSPI gained 1.54%.

Stocks To Watch

• Tesla Inc. (TSLA): Tesla issued a recall of 12,963 vehicles in the U.S. due to a defect in a battery pack component that could lead to a sudden loss of drive power, according to an announcement by the National Highway Traffic Safety Administration (NHTSA). The company is also scheduled to announce its third-quarter (Q3) results on Wednesday after the closing bell. Tesla shares edged up by 0.1% in Wednesday’s pre-market trade.
• Netflix Inc. (NFLX): Netflix shares declined nearly 7% pre-market after the company’s Q3 earnings missed expectations. Netflix reported earnings per share (EPS) of $5.87 on revenue of $11.51 billion, compared to Wall Street expectations of an EPS of $6.96 on revenue of $11.51 billion, according to Stocktwits data.
• DraftKings Inc. (DKNG): DraftKings shares surged 4% pre-market after the company announced the acquisition of Railbird, an exchange for trading event-based contracts.
• GE Vernova Inc. (GEV): GE Vernova’s shares declined nearly 1% in Wednesday’s pre-market session after its Q3 earnings missed Wall Street expectations. GE Vernova reported EPS of $1.64 on revenue of $10 billion, compared to expectations of an EPS of $1.72 on revenue of $9.15 billion, according to Stocktwits data.
• Tesla, International Business Machines Corp. (IBM), Southwest Airlines Co. (LUV), and Alcoa Corp. (AA) are among the companies scheduled to report their latest quarterly earnings on Wednesday.

Also See: Trump Signs Critical Minerals Deal With Australia

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