U.S. stock futures were higher on Wednesday, as the Dow Jones, S&P 500 and Nasdaq 100 indices rose, following Tuesday’s mixed close.
Reuters reported that Iran is prolonging negotiations with the U.S. to undermine President Donald Trump ahead of the Nov. 3 midterm elections, while preparing for the possibility of renewed American and Israeli military strikes. Iran’s Security Chief Mohsen Rezaee said on X that “Not a single gram of enriched uranium will be removed from Iran” and added, “There will be no negotiations until the United States takes steps to build trust.”
Reuters also reported that Iran told Pakistan’s army chief there would be no talks with Washington until Tehran’s demands were met, including ending a U.S. blockade on its ports, lifting sanctions on its oil exports and ending hostilities on all regional fronts.
Wednesday is a massive day for third-quarter earnings, headlined by Magnificent 7 members Meta Platforms Inc. (NASDAQ:META) and Tesla Inc. (NASDAQ:TSLA). The heavy docket also includes Lam Research Corp. (NASDAQ:LRCX), Texas Instruments Inc. (NASDAQ:TXN), and IBM Corp. (NYSE:IBM).
Meanwhile, the 10-year Treasury bond yielded 5.12%, and the 2-year Treasury bond yielded 4.79% at last check. The CME Group’s FedWatch tool projections show markets pricing in an 85.1% likelihood of the Federal Reserve keeping interest rates unchanged after its October meeting.
| Index | Performance (+/-) |
|---|---|
| Dow Jones | 0.07% |
| S&P 500 | 0.15% |
| Nasdaq 100 | 0.42% |
| Russell 2000 | -0.08% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket trading on Wednesday. The SPY was up 0.08% at $769.67, while the QQQ advanced 0.39% to $720.43.
Stocks In Focus
SpaceX
- Space Exploration Technologies Corp. (NASDAQ:SPCX) was 10.39% higher in premarket trading on Wednesday after beating third-quarter 2026 earnings estimates with EPS of $0.35 on revenue of $14.57 billion, versus expectations of $0.14 and $12.74 billion.
- Benzinga’s Edge Stock Rankings indicate that SPCX maintains a positive price trend in the medium and long term, but a weak trend in the short term.
Super Micro Computer
- Super Micro Computer Inc. (NASDAQ:SMCI) was 12.43% higher in premarket trading on Wednesday after the company raised its outlook for the first quarter and said it expects first-quarter revenue to be in the range of $18.5 billion to $19.5 billion, up from prior guidance of $14.5 billion to $15.5 billion.
- Benzinga’s Edge Stock Rankings indicate that SMCI maintains a negative price trend in the short term but a positive trend in the medium and long terms, with a strong growth score.
Netflix
- Netflix Inc. (NASDAQ:NFLX) was 6.42% lower as it reported mixed third-quarter 2026 results. Its earnings per share were $0.87 on revenue of $12.87 billion, versus estimates of $0.82 and $12.88 billion, after the closing bell on Tuesday.
- Benzinga’s Edge Stock Rankings indicate that NFLX maintains a negative price trend in the short, medium, and long terms, with a good growth score.
Capital One Financial
- Capital One Financial Corp. (NYSE:COF) was 3.44% higher as it reported quarterly earnings of $6.69 per share, which beat the analyst consensus estimate of $5.50, and revenue came in at $16.34 billion, which beat the Street estimate of $16.26 billion.
- Benzinga’s Edge Stock Rankings indicate that COF maintains a positive price trend in the short, medium, and long terms, with a moderate momentum score.
Meta Platforms
- Meta Platforms Inc. (NASDAQ:META) was 0.38% lower in premarket trading on Wednesday ahead of quarterly results after the closing bell, with analysts expecting earnings of $5.74 per share on revenue of $63.37 billion for the third quarter of 2026.
- Benzinga’s Edge Stock Rankings indicate that META maintains a positive price trend in the short, medium, and long terms, with a good quality score.
Cues From Last Session
U.S. stocks closed mixed on Tuesday, with health care, real estate and utilities leading and information technology lagging.
| Index | Performance (+/-) | Value |
|---|---|---|
| Dow Jones | 1.02% | 52,495.88 |
| S&P 500 | 0.28% | 7,712.57 |
| Nasdaq Composite | -0.02% | 26,424.82 |
| Russell 2000 | 1.65% | 2,773.42 |
Insights From Analysts
Mike Wilson, Morgan Stanley’s Chief U.S. Equity Strategist, said the prolonged correction across average American stocks is nearly over, even as recent gains have relied on a shrinking group of companies.
On CNBC, Wilson said, “If you look at the breadth of the market, it’s been terrible,” and added, “But I think we’re in the final innings of this.”
He anticipates another two to three weeks of turbulence before equities stage a stronger finish to 2026, and he continues to favor large-cap, high-quality, and asset-light businesses during the volatility. Wilson also said he projects the S&P 500 could climb to 8,500 by mid-2027.
Upcoming Economic Data
Here’s what investors will be keeping an eye on Wednesday.
- There are no major economic events scheduled.
Commodities, Crypto, And Global Equity Markets
Crude Oil WTI futures were trading higher in the early New York session by 1.65% to hover around $99.43 per barrel.
Gold Spot US Dollar fell 0.2% to hover around $4,117 per ounce. The U.S. Dollar Index spot was little changed at the 101.7926 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading at $83,340 per coin, up 2.3% over the past 24 hours.
Asian markets were mixed on Wednesday, as Australia’s ASX 200, South Korea’s Kospi, and Japan’s Nikkei 225 indices rose. India’s Nifty 50, China’s CSI 300, and Hong Kong’s Hang Seng indices fell. European markets were also mixed in early trading.
Photo courtesy: Shutterstock
