Stock Futures Little Changed After Mixed Session; Gold Slips Further After Worst Day in 12 Years

Stock futures were little changed ahead of another busy earnings day Wednesday, while gold futures pulled back further after their worst session in a dozen years.

Futures associated with the S&P 500 were up 0.1%, while those affiliated with the Dow Jones Industrial Average and Nasdaq were down less than 0.1%. Yesterday, the blue-chip Dow ended up 0.6%, the tech-heavy Nasdaq ticked down 0.2%, and the benchmark S&P 500 finished almost perfectly flat.

Gold futures were down a further 0.5% to $4,090 after sinking nearly 5.5% yesterday—their worst day in a dozen years. Gold had set its latest record of $4,393 early Tuesday before retreating.

The 10-year Treasury yield, which influences borrowing costs of products like mortgages, ticked lower to 3.95%. Bitcoin traded below $108,000, down from nearly $112,000 earlier Wednesday. West Texas Intermediate crude oil futures advanced 0.4% to $58.05 a barrel. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, ticked higher to 99.04.

In corporate news, Netflix (NFLX) shares were down 6.5% in premarket trading after the streaming giant reported weaker-than-expected quarterly profit; DraftKings (DKNG) stock was up 5% after the sports-betting company announced it was entering “prediction markets” by acquiring RailBird; and shares of Six Flags Entertainment (FUN) pulled back nearly 3% before the bell after soaring 18% yesterday on news that NFL star Travis Kelce was teaming up with activist investor Jana Partners to push for change at the amusement parks operator.

Shares of Tesla (TSLA) and IBM (IBM) both edged higher ahead of their third-quarter results after the close today; AT&T (T) shares rose 1% despite weaker-than-expected revenue as it reported higher fiber and postpaid phone net additions; and shares of Alphabet (GOOGL) rose more than 1.5% on a Bloomberg report that the firm’s Google unit was in talks with Anthropic to provide cloud computing services in a deal “valued in the high tens of billions of dollars.”