Stock futures are down slightly this morning as investors assess a slew of corporate earnings reports and monitor developments in U.S.-China trade relations; Tesla (TSLA) shares are falling after the EV maker’s third-quarter profit came up short of Wall Street estimates despite higher-than-expected revenue; IBM (IBM) shares are lower after its quarterly software sales missed analysts’ expectations; Intel (INTC) is set to release results after the closing bell, with traders pricing in a big move in the chipmaker’s stock following the report; and oil prices are rising after the U.S. slapped sanctions on major Russian oil firms amid pressure to end the Ukraine war. Here’s what you need to know today.
1. Stock Futures Slip Amid Wave of Corporate Earnings
Stock futures are moving lower Thursday as investors pour over a barrage of earnings reports from major companies and keep tabs on developments in U.S.-China trade relations. Major U.S. indexes lost ground yesterday, led by declines in tech stocks, one day after the Dow Jones Industrial Average closed at a record high. Dow futures were down 0.2% in recent trading, as were S&P 500 futures, while futures tied to the tech-heavy Nasdaq slipped 0.3%. Gold futures, which have hit a series of record highs lately but stumbled this week, were up 1.5% at near $4,125 an ounce. Bitcoin (BTCUSD) was trading at $109,000, up from an overnight low of $106,700. The yield on the 10-year Treasury note, which can have an impact on mortgage rates and other consumer loans, ticked higher to 3.99% after it recently hit six-month lows.
2. Tesla Shares Fall as Earnings Disappoint
Tesla (TSLA) shares are down in premarket trading after the EV maker’s quarterly profit came in short of analysts’ estimates, even as it returned to revenue growth following two quarters of declines. Tesla posted earnings per share of 50 cents in the third quarter, below the 54 cents that analysts tracked by Visible Alpha had estimated. Revenue in the period rose 12% to $28.1 billion, beating estimates. Tesla’s revenue grew as customers rushed to take advantage of an expiring EV tax credit, though the company’s investments in restructuring and AI drove its costs higher. On the earnings conference call, CEO Elon Musk touted the company’s advancements in AI, self-driving cars and humanoid robotics, highlighting the technologies as the firm’s next stage of growth. Tesla shares, which through yesterday’s close had gained 9% so far this year, were down 4% ahead of the bell.
3. IBM Shares Fall as Software Sales Miss Estimates
IBM (IBM) shares are sharply lower as a slowdown in software sales growth offset revenue and profit numbers that came in ahead of analysts’ estimates. IBM said that third-quarter revenue rose 9% to $16.33 billion, while earnings per share were $2.65, well above the $2.44 that analysts had been expecting. However, the 10% increase in software sales to $7.2 billion came in slightly below estimates and raised concerns about the company’s growth trajectory at a time when demand is booming for cloud services. Shares of IBM, a Dow component, were down 7% in recent premarket trading. Coming into today’s session, the stock had gained 30% so far in 2025.
4. Intel Set to Report Results, Big Stock Move Expected
Intel (INTC) is scheduled to release its third-quarter numbers after the closing bell, and traders anticipate volatility in its stock price following the report. Analysts tracked by Visible Alpha expect quarterly revenue for the embattled chipmaker to have declined slightly to around $13.16 billion, while its adjusted earnings are estimated at two cents a share, an improvement over its loss of 48 cents a share in the year-ago quarter. Intel shares have risen roughly 85% so far this year as investor sentiment has been boosted by a series of major investments in the company. The Trump administration in August took an approximately 10% stake in the company, and Intel has also received investments from Japan’s SoftBank and AI chip giant Nvidia (NVDA). Intel shares were down about 1% in recent trading.
5. Oil Futures Jump as Trump Administration Sanctions Russian Firms
Oil futures are surging after the Trump administration put sanctions on Russia’s two largest oil companies amid pressure to end the war in the Ukraine. The Treasury Department said the sanctions on Russian oil firms Rosneft and Lukoil are designed to “degrade the Kremlin’s ability to raise revenue for its war machine.” West Texas Intermediate futures, the U.S. crude oil benchmark, were up more than 5% at $61.50 per barrel. Brent crude futures, the global benchmark, were also up about 5%. “Now is the time to stop the killing and for an immediate ceasefire,” Treasury Secretary Scott Bessent said in a statement.
