Why it matters
- Nasdaq 100 futures were up about 0.57% and S&P 500 futures 0.26% around 8:44 a.m. ET on Wednesday, Oct. 21, Yahoo Finance data showed, as SpaceX and Super Micro results eased worries about AI spending, Trading Economics said.
- AT&T, Philip Morris, Thermo Fisher, Abbott, NextEra and Elevance reported before the open, their releases said. Meta, Tesla, IBM, Lam Research and Texas Instruments report after the close, according to Nasdaq's earnings calendar.
- Treasury sells $13 billion of 20-year bonds at 1 p.m. ET, and the EIA's weekly petroleum report is due at 10:30 a.m. ET. December WTI crude was near $97.89 a barrel.
The day ahead: scheduled events and what forecasters expect.
Updated Oct. 21: Stocks closed higher. The Nasdaq Composite rose 1.05% to 26,702.86, the S&P 500 0.58% to 7,757.17 and the Dow 0.69% to 52,856.09, Yahoo Finance data showed. The 20-year bond auction drew a 5.469% high yield with a bid-to-cover ratio of 2.73, TreasuryDirect said. Meta, Tesla and IBM released results after the close. See our Americas Wednesday recap.
U.S. stock futures rose before the open on Wednesday, Oct. 21, as strong results from SpaceX and Super Micro Computer eased concerns about the AI investment boom, Trading Economics said. Nasdaq 100 futures were up about 0.57% and S&P 500 futures about 0.26% around 8:44 a.m. ET, while Dow futures were up 0.30%, according to Yahoo Finance data.
Where are futures before the open?
| Market, about 8:44 a.m. ET | Level | Change vs. Tuesday |
|---|---|---|
| S&P 500 futures | 7,775.50 | +0.26% |
| Nasdaq 100 futures | 29,843.25 | +0.57% |
| Dow futures | 52,878 | +0.30% |
| 10-year Treasury yield | about 5.09% | down from 5.12% |
| WTI crude, December ($/barrel) | 97.89 | +0.07% |
| Brent crude, December ($/barrel) | 108.64 | −0.14% |
| Gold futures ($/ounce) | 4,145.10 | +0.06% |
| U.S. dollar index | 101.69 | −0.04% |
Source: Yahoo Finance chart data. Levels are delayed and approximate; changes are from Tuesday's settlement or close.
In premarket trading, Super Micro soared nearly 12% after upbeat results, SpaceX rose more than 8% and Tesla gained 1.4% after Elon Musk floated a possible merger of the two companies, Trading Economics said. Netflix fell 6.5% after a disappointing forecast, AT&T 4.1% and Philip Morris 2.5%, while Meta slipped about 0.6%, it said. Tuesday's session is in our Americas Tuesday recap.
Overseas, South Korea's Kospi jumped 3.29% as chipmakers rebounded and European stocks rose on earnings; see our Asia Wednesday recap and Europe Wednesday recap.
Which companies reported earnings before the open?
- AT&T reported revenue of $32.3 billion, up 5.3%, and adjusted earnings of $0.65 a share, up from $0.54, and updated its outlook to reflect higher 2026 adjusted EPS, the company said. Nasdaq's calendar listed a consensus forecast of $0.61.
- Philip Morris International reported adjusted earnings of $2.36 a share, up 5.4%, on net revenue of $11.4 billion, up 5.5%, the company said. Nasdaq's calendar listed a forecast of $2.30.
- Thermo Fisher Scientific reported revenue up 9% to $12.14 billion and adjusted earnings up 15% to $6.68 a share, the company said. Nasdaq's forecast was $6.40.
- Abbott reported adjusted earnings of $1.42 a share on reported sales growth of 14.5% and tightened its 2026 adjusted EPS range to $5.50 to $5.55, the company said. Nasdaq's forecast was $1.43.
- NextEra Energy reported adjusted earnings of $1.24 a share, up from $1.13, the company said. Nasdaq's forecast was $1.20.
- Elevance Health reported adjusted earnings of $6.99 a share on operating revenue of $50.4 billion and raised its 2026 adjusted EPS guidance to at least $29.00, the company said.
Which companies report after the close?
Meta Platforms, Tesla, IBM, Lam Research, Texas Instruments, SAP, CSX, Kinder Morgan and Southwest Airlines are scheduled to report after the close, according to Nasdaq's earnings calendar; companies can change dates. Nasdaq listed consensus forecasts of $4.98 a share for Meta, $0.22 for Tesla and $2.88 for IBM.
Why is oil near $100 a barrel?
Crude rose to its highest since Sept. 17 earlier Wednesday as attacks in the Strait of Hormuz raised supply concerns, Trading Economics said. A vessel was struck near Oman, the U.K. Maritime Trade Operations agency reported, and Iran's state-run IRIB News said a supertanker hit a sea mine, it said. The American Petroleum Institute reported a 4.9 million-barrel drop in crude stocks last week. By 8:44 a.m. ET, December WTI was at about $97.89, up 0.07% from Tuesday's $97.82 settlement, and December Brent at about $108.64, Yahoo Finance data showed. The EIA's Weekly Petroleum Status Report is due at 10:30 a.m. ET, the agency's standard Wednesday release time.
What is on the Treasury and Fed calendar?
The Treasury auctions $13 billion of reopened 20-year bonds, maturing Aug. 15, 2046, with competitive bids due at 1 p.m. ET, and $75 billion of 17-week bills at 11:30 a.m. ET, according to TreasuryDirect. A $26 billion five-year TIPS auction follows Thursday. The Bureau of Labor Statistics releases third-quarter usual weekly earnings at 10 a.m. ET.
The Fed's October calendar lists no speeches for the rest of the month; its H.4.1 balance sheet is due at 4:30 p.m. Thursday. The next policy meeting is Oct. 27-28, with a decision and a 2:30 p.m. press conference on Oct. 28. Markets price about an 85% chance the Fed holds rates, Trading Economics said. The 10-year yield's moves are tracked on our markets page, and upcoming releases are on our market calendar.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- AT&T, third-quarter 2026 results (SEC filing)
- Philip Morris International, third-quarter 2026 results (SEC filing)
- Thermo Fisher Scientific, third-quarter 2026 results (SEC filing)
- Abbott, third-quarter 2026 results (SEC filing)
- NextEra Energy, third-quarter 2026 results (SEC filing)
- Elevance Health, third-quarter 2026 results (SEC filing)
- Nasdaq, earnings calendar for Oct. 21, 2026
- TreasuryDirect, upcoming auctions
- U.S. Energy Information Administration, Weekly Petroleum Status Report release schedule
- Federal Reserve, Calendar: October 2026
- Bureau of Labor Statistics, October 2026 release schedule
- Trading Economics, U.S. stock market, crude oil and U.S. 10-year Treasury yield
- Yahoo Finance, chart data for S&P 500 futures, Nasdaq 100 futures, Dow futures, 10-year Treasury yield, WTI December, Brent December, gold futures and the U.S. dollar index