Stock futures dropped Wednesday as earnings season gained steam and Wall Street looked ahead to key financial reports.
Futures for the Dow Jones Industrials slid 60 points, or 0.2%, to 34,084.
Futures for the S&P 500 descended 17 points, or 0.4%, at 4,384.75.
Futures for the NASDAQ slumped 80.75 points, or 0.5%, to 15,160.
Shares of United Airlines fell more than 5% in premarket trading on soft guidance, while Procter & Gamble rose 1% after beating analyst expectations for the quarter. Netflix and Tesla are among the big names on deck after the market closes on Wednesday.
Chip stocks such as Nvidia and Advanced Micro Devices sold off as the U.S. announced plans to tighten restrictions on AI chip exports to China.
Wall Street continued to assess the impact of the ongoing Israel-Hamas war. Traders also parsed through third-quarter earnings reports, including results from financial institutions such as Bank of America, Goldman Sachs and Bank of New York Mellon.
Just over 10% of companies in the S&P 500 have reported results. Of those that have already reported, about 78% have surpassed analyst expectations.
On the economic front, Wall Street awaits housing starts and building permits data for September.
In Japan, the Nikkei 225 picked up nearly two points Wednesday, while in Hong Kong, the Hang Seng dropped 0.2%.
Oil prices surged $1.43 to $88.09 U.S. a barrel.
Gold prices brightened $24.60 to $1,960.30 U.S. an ounce.