Stock futures were slightly in the red on Wednesday, a quiet day for economic data. Safe-haven assets rallied.
Near 8:38 a.m. ET, Dow futures were down 36 points (-0.2%), S&P 500 futures were down 2 points (-0.12%), and Nasdaq futures were off 3 points (-0.09%). Stocks finished strong on Tuesday, with the Dow gaining 222 points, or 1.3%.
Treasuries and gold were higher. The benchmark 10-year yield fell below 1.75% to as low as 1.744%, while gold gained 1.1%, or $14.15 an ounce, to $1,279.25.
West Texas Intermediate crude futures were virtually flat around $44.73 per barrel. The Energy Information Administration will release its weekly inventories data at 10:30 a.m. ET.
A few key companies reported had earnings news that disappointed investors.
Disney shares tumbled 5% after the company missed on earnings for the first time in five years.
Staples fell by as much as 15%, and Office Depot cratered 34% after both companies scrapped their planned merger. A federal judge paused the deal on antitrust concerns.
Macy’s tanked 7% after the retailer cut its guidance for profits this year, and confirmed that retail is still a tough business to be in right now.
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