US equity markets were trending downward before the open Tuesday following record highs reached a day earlier as traders assess the waning earnings season. Standard & Poor's 500 futures declined 0.2% in premarket activity, while the Dow Jones Industrial Average and the Nasdaq-linked measures edged down 0.1% each.
Asian and European exchanges were tracking in the red. The Dow closed above 44,000 for the first time on Monday while the S&P 500 and the Nasdaq also reached records as they built on post-US election rallies. Shares of Home Depot ($HD) increased 2.3% pre-bell as the company reported better-than-expected fiscal third-quarter results.
On Holding's ($ONON) US-listed stock gained 4.1% as the Swiss sports shoe maker lifted its full-year sales outlook. Tencent Music Entertainment's ($TME) US-listed shares dropped 6.5% after the Chinese music and audio entertainment platform's third-quarter earnings fell short of market estimates. AstraZeneca ($AZN) was down nearly 2% following its quarterly results. Shopify ($SHOP), Sea ($SE), Tyson Foods ($TSN), Mosaic ($MOS), Roivant Sciences ($ROIV), Legend Biotech ($LEGN), EchoStar ($SATS) and International Game Technology ($IGT) also report before the bell.
Spotify Technology ($SPOT), Occidental Petroleum ($OXY) and Flutter Entertainment ($FLTR) post earnings in the afterhours. On the economic calendar, the National Federation of Independent Business small business optimism index showed a 2.2-point increase in October to 93.7. Federal Reserve Bank of Minneapolis President Neel Kashkari is scheduled to speak at 2 pm ET, while Philadelphia Fed President Patrick Harker speaks at 5 pm. Before the opening bell, bitcoin inclined 0.7% to $87,723, West Texas Intermediate crude oil rose almost 1% to $68.69 per barrel, yields on 10-year Treasuries climbed 5.7 basis points to 4.37% and gold retreated 0.6% to $2,603 an ounce..