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US stock futures fall as oil prices hit five-month high
US stock futures fall as oil prices hit a five-month high
Key points
- Tesla is conducting an earnings call on Oct. 21.
- Elon Musk confirmed that Tesla and SpaceX are formally studying a merger.
- Wall Street expects quarterly profit to be lighter than a year ago.
Why it matters. The earnings call occurs amid a potential merger between Tesla and SpaceX and expectations of lower quarterly profits.
US stock futures fell on Thursday as oil prices reached a five-month high. The Dow Jones index, S&P 500, and Nasdaq futures declined, led by the Tech sector. Investors weighed earnings from Tesla and Meta, both of which fell. The jump in oil prices follows new planned U.S.-Israel strikes on Iran.
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US stock futures fall as oil prices hit five-month high
US stock futures dropped on Thursday, with the technology sector leading the decline. Investors are currently weighing earnings reports from social media giant Meta and EV maker Tesla. Simultaneously, oil prices surged to a five-month high following reports of planned US-Israel strikes on Iran. The combination of geopolitical tension and corporate earnings has put downward pressure on the Dow Jones index.
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