US Futures Steady After Volatile Session
US stock futures stabilized on Wednesday after the major averages swung sharply in the previous session as investors reacted to mostly positive bank earnings, Federal Reserve comments, and ongoing US-China trade tensions.
On Tuesday, the Dow gained 0.44%, while the S&P 500 and Nasdaq Composite slipped 0.16% and 0.76%, respectively.
The S&P 500 fluctuated between losses of 1.5% and gains of 0.39% in a choppy session.
Market sentiment was pressured after China imposed sanctions on five US units of South Korea’s Hanwha Ocean and President Trump threatened a cooking oil embargo against Beijing.
Meanwhile, Fed Chair Powell’s comments reinforced expectations for an October rate cut and hinted at a possible pause in balance sheet runoff.
Investors now await quarterly results from Bank of America, Morgan Stanley, Abbott Labs, and ASML later in the day.