US equity markets mostly pointed higher before Thursday's opening bell, driven in part by Tesla's better-than-expected third-quarter earnings. The Standard & Poor's 500 gained 0.5% and the Nasdaq added 0.8% in premarket activity, while the Dow Jones Industrial Average edged down 0.1%. A majority of Asian exchanges trended lower, while European bourses tracked in the green midday on the continent.
Shares of Tesla jumped about 12% pre-bell as the electric vehicle manufacturer's earnings in the September quarter surprisingly increased year over year. Conversely, International Business Machines dropped 5.1% as the technology giant's third-quarter revenue fell short of market estimates. Meanwhile, T-Mobile US rose 2.5% following its latest quarterly results.
In other market moves, Boeing's stock declined 2.6% after its striking factory workers rejected another contract offer. Several companies, including S&P Global, Union Pacific, Honeywell International, KKR, United Parcel Service, Northrop Grumman, Carrier Global, Keurig Dr Pepper, Dow, Dover, Southwest Airlines, Hasbro, and American Airlines, are set to report their latest financial results before the bell, among others.
Post-market, Arthur J. Gallagher, Capital One Financial, L3Harris Technologies, DexCom, and Deckers Outdoor will also announce earnings. On the economic calendar, the weekly jobless claims bulletin will be released at 8:30 am ET along with the Chicago Fed National Activity Index for September. The October purchasing managers' index report from S&P Global is due at 9:45 am, followed by the new home sales report for last month at 10 am.
Additionally, the weekly EIA domestic natural gas supplies report is scheduled for a 10:30 am release, while the Kansas City Fed Manufacturing Index for the current month will post at 11 am. Federal Reserve Bank of Cleveland President Beth Hammack is slated to speak at 8:45 am. Before the opening bell, bitcoin increased by 1.1% to $66,962.
West Texas Intermediate crude oil advanced 1.9% to $72.14 per barrel, yields on 10-year Treasuries retreated by 5.4 basis points to 4.19%, and gold moved up by 0.7% to $2,750 per ounce..