U.S. equity futures slid late Wednesday after investors digested third-quarter earnings from big tech names including Meta Platforms and Tesla.
Dow Jones Industrial Average futures ticked down 0.3%, or 170 points. S&P 500 futures fell 0.5%, and Nasdaq-100 futures dropped 0.7%.
Shares of Meta gained 2% in extended trading. The Facebook and Instagram parent delivered a revenue beat along with strong guidance for the current quarter. Meanwhile, Tesla reported a better-than-expected top and bottom line for its third-quarter results. Shares of the electric vehicle maker were last off 3%.
"The quarter showed the AI investment paying off in the core," said Dan Ives, partner and senior managing director at Yorkville Ives in his post Meta earnings reaction note. Spend is "better controlled than feared," Ives added as Meta narrowed the range for its full-year data center-related capital expenditures.
The action follows a positive day on Wall Street, with the S&P 500 notching a three-day win streak, while the Dow jumped 360 points. The Nasdaq Composite closed 1% higher, catching a tailwind from SpaceX and Tesla.