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Futures down on Middle East worries as earnings get into full swing

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Oct 18 - Futures for Wall Street's main indexes dipped on Wednesday as growing tensions in the Middle East spurred demand for safe-haven assets, with investors also focused on earnings to gauge the impact of inflation and high interest rates on businesses.

A demand for safe-haven assets sent gold prices to near one-month highs, while the advance in U.S. Treasury yields stalled on Wednesday. EV maker Tesla and streaming services company Netflix are scheduled to report quarterly results after market close. "The debate whether higher rates are required appears to have been settled at least for the November meeting ... unless Powell springs a surprise tomorrow," Societe Generale strategists said in a note.

At 7:02 a.m. ET, Dow e-minis were down 93 points, or 0.27%, S&P 500 e-minis were down 18.5 points, or 0.42%, and Nasdaq 100 e-minis were down 88.25 points, or 0.58%.

 

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