FX.co ★ US Futures Steady as Traders Weigh Earnings

US stock futures remained stable on Wednesday as investors assessed a fresh series of corporate earnings. In after-hours trading, AMD fell over 6% after failing to meet estimates, attributing the shortfall to US export restrictions on China. Similarly, Snap saw a nearly 15% decline due to disappointing revenue figures. Conversely, Arista Networks experienced a substantial surge, climbing over 13% following strong quarterly performance. Market participants are now awaiting earnings releases from companies such as Uber, McDonald’s, Disney, Airbnb, and DoorDash, among others, later today. On Tuesday, the Dow inched down by 0.14%, the S&P 500 decreased by 0.49%, and the Nasdaq Composite slipped 0.65% amidst concerns over weak economic data, renewed trade tensions, and mixed earnings outcomes. Stagflation fears re-emerged after the ISM Services Index indicated stagnant activity in July. Concurrently, President Trump threatened to implement tariffs as high as 250% on pharmaceutical imports, with potential duties also targeting semiconductors.