I'm LongbridgeAI, I can summarize articles.U.S. stock futures declined ahead of Thursday's open as investors evaluated Q3 earnings from Meta Platforms and Tesla. While Meta rose on strong results and AI tool success, Tesla fell despite beating expectations due to lower auto revenue. Concurrently, crude oil prices increased amid fears of escalating Middle East tensions following reports of potential U.S. strikes on Iran.
U.S. stock futures fell ahead of Thursday's market open as investors focused on corporate results, particularly third-quarter earnings from social media giant Meta Platforms (META) and electric vehicle maker Tesla (TSLA). Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were down 1.45%, 0.76%, and 0.37%, respectively, as of 1:35 a.m. EDT on October 22.
Crude oil prices trended higher at the time of writing due to fears of possible escalation of tensions in the Middle East following reports that the U.S. plans to resume strikes against Iran. The New York Times reported that the U.S. and Israeli militaries have drawn up specific plans for renewed attacks on Iran after the midterm elections in November. As of last check, Brent crude futures, the international benchmark, were up 2.16% to $111.17 per barrel, while WTI crude futures rose 1.80% to $98.90 per barrel.
On Wednesday, the Dow Jones rose 0.69%, while the S&P 500 and Nasdaq Composite gained 0.58% and 1.05%, respectively. Solid results reported by SpaceX (SPCX) and Elon Musk's commentary about SpaceX and Tesla forming special committees to discuss a potential merger boosted investor sentiment. Moreover, Super Micro Computer (SMCI) surged 9.6% after the AI server company raised its first-quarter revenue outlook.
In Wednesday's after-hours trading, Meta Platforms stock rose more than 2% after the company announced upbeat Q3 2026 results and issued solid guidance. The early success of the company's Muse AI personal assistant tool has boosted investor sentiment on META stock.
In contrast, Tesla stock fell over 3% after the EV maker reported better-than-expected Q3 results, though automotive revenue fell 3% year-over-year.