Index futures slip after Meta and Tesla reports as Brent holds near $110

what happened

Stocktwits reports that U.S. stock futures moved lower in the overnight session on Wednesday, after quarterly reports from Meta Platforms and Tesla. By 10:39 p.m. Eastern time, Nasdaq-100 futures had dropped 1%, S&P 500 futures were down 0.49%, and Dow futures had slipped 0.21%. During the regular session, all three benchmarks had closed higher, with the Nasdaq Composite up 1.05%.

Meta's revenue rose 26% to $64.6 billion, topping the $63.4 billion analysts expected. Earnings per share of $3.83, however, fell short of the $5.46 projection because of a $9.89 billion legal charge. The company also approved a new class of non-voting Class C shares, to be handed out as a one-time dividend that works like a 2-for-1 split. Tesla reported revenue of $28 billion, slightly below the $28.3 billion estimate, while earnings per share of $0.48 beat the $0.45 forecast. Its shares nonetheless slipped after the company lowered its full-year capital spending outlook to roughly $20 billion and pushed back the timeline for scaling its Optimus robot.

Media reports suggest a merger between Tesla and SpaceX could be announced as early as the first half of 2027, although the companies' independent committees have not yet agreed on terms. Brent crude traded at $110.40 a barrel, up 1.45%, as tensions between the U.S. and Iran kept oil prices elevated. Long-dated Treasury yields stayed above 5%, with the 10-year at 5.088% and the 30-year at 5.377%.

why it matters

Mixed results from Meta and Tesla keep investor attention on the AI trade, while costly oil and high bond yields weigh on market sentiment. Reports from Procter & Gamble, Western Digital, Lockheed Martin, Honeywell and Bloom Energy next week will show whether this mood holds.

market impact

US stock index futures: mixed mega-cap results and high oil and bond yields weigh on sentiment

instruments