December Nasdaq 100 E-Mini futures (NQZ23) are trending down -0.14% this morning as rising Treasury yields and disappointing earnings results from Tesla overshadowed upbeat earnings results from Netflix while investors looked ahead to a speech by Federal Reserve Chairman Jerome Powell.
In Wednesday’s trading session, Wall Street’s major averages ended lower. United Airlines Holdings Inc (UAL) plunged over -9% after the carrier provided weaker-than-expected Q4 EPS guidance. Also, Morgan Stanley (MS) slid more than -6% after reporting weaker-than-expected Q3 wealth management net revenue. In addition, Albemarle Corp (ALB) tumbled over -9% after Bank of America Global Research downgraded the stock to Underperform from Neutral. On the bullish side, Procter & Gamble Company (PG) rose more than +2% after the company reported Q1 revenue, EPS, gross margin, and organic sales that surpassed analysts’ estimates. Also, Nasdaq Inc (NDAQ) climbed about +4% after delivering upbeat Q3 results.
