(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)
US equity futures were edging higher pre-bell Wednesday as traders assessed the most recent series of corporate earnings, notably the upbeat financial results of SpaceX (SPCX).
Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.7% higher.
SpaceX said late Tuesday it swung to Q3 profit as revenue rose, driven by sharp gains in its artificial intelligence and connectivity divisions. The company's stock rose 9% in premarket activity.
Russia is set to send its first vessel with diesel on Thursday, carrying 40,000 metric tons of the fuel, to the US after striking a deal with President Trump, Reuters reported.
The Trump administration is offering to loan up to up to 315,000 barrels of heating oil from the 1-million-barrel US emergency heating oil reserve, according to a separate Reuters report that cited the Department of Energy.
Traders also digested earnings that came out before the opening bell, with Philip Morris International (PM) and Thermo Fisher Scientific (TMO) reporting higher Q3 adjusted earnings and revenue.
Meta Platforms (META) and Tesla (TSLA) are expected to report their Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $6.54 per share on revenue of $63.34 billion for Meta and adjusted earnings of $0.45 per share on revenue of $28.06 billion for Tesla.
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.2% at $108.54 per barrel and US West Texas Intermediate crude 0.1% lower at $97.76 per barrel.
The Atlanta Fed Business Inflation Expectations survey for October is expected at 10 am ET.
In other world markets, Japan's Nikkei closed 0.9% higher, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished 0.6% lower. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.
In equities, Philip Morris and Thermo Fisher Scientific shares were down 2.8% and 2.6%, respectively, after reporting Q3 financial results. Netflix (NFLX) was 6.8% lower after the company issued Q4 guidance falling short of analysts' consensus. AT&T (T) shares dropped 5% despite the company posted higher Q3 adjusted earnings and operating revenue.
On the winning side, Nvidia (NVDA) stock was up 1.8% after the company said it is planning to expand its global manufacturing capacity through new agreements with a group of supply chain partners. AMD (AMD) shares rose 1.9% after Vultr said the two companies are expanding their collaboration, with a plan to deploy AMD Instinct MI355X GPUs in a new 20-megawatt AI supercluster in Chennai, India. Super Micro Computer (SMCI) climbed over 12% after the company reported preliminary fiscal Q1 revenue and margin results above expectations late Tuesday.
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