Dow Futures Edge Lower Amid Simmering US-China Trade Tensions: TSLA, IBM, IONQ, RGTI Among Stocks To Watch

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  • While Dow Jones futures were down by 0.06% at the time of writing, the S&P 500 futures rose 0.03%.
  • Asian markets ended Wednesday’s trading session on a mixed note, with the Nikkei 225 index declining the most, while the Hang Seng index was the top gainer.

U.S. stocks appear set for a cautious opening on Thursday amid simmering trade tensions between the United States and China. After Trade Representative Jamieson Greer called China’s rare earth export controls “incredibly aggressive,” Treasury Secretary Scott Bessent said that the Trump administration is considering curbing exports to China on goods made with U.S. software.

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Addressing reporters at the White House on Wednesday, President Donald Trump said he has a “pretty long meeting scheduled” in South Korea with his Chinese counterpart, President Xi Jinping. “We can work out a lot of our questions and our doubts,” he added.

Futures Mixed

While Dow Jones futures were down by 0.06% at the time of writing, the S&P 500 futures rose 0.03%, while the tech-heavy Nasdaq 100’s futures edged up by 0.01%. Futures of the Russell 2000 index gained 0.48%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up by 0.04% at the time of writing, Invesco QQQ Trust (QQQ) gained 0.01% on Thursday morning, and SPDR Dow Jones Industrial Average ETF Trust (DIA) fell 0.05%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.

Asian Markets Mixed

Asian markets ended Wednesday’s trading session on a mixed note, with the Nikkei 225 index declining the most at 1.31%, followed by the KOSPI at 0.99%, and the TWSE Capitalization Weighted Stock index at 0.42%.

The Hang Seng index rose 0.51%, while the Shanghai Composite gained 0.22%.

Stocks To Watch

  • Tesla Inc. (TSLA): Tesla shares declined over 3% in Thursday’s pre-market trade after the company’s third-quarter (Q3) results came in mixed. Tesla reported earnings per share (EPS) of $0.5 on revenue of $28.1 billion, while Wall Street expected an EPS of $0.55 on revenue of $26.5 billion, according to Stocktwits data.
  • International Business Machines Corp. (IBM): IBM’s Q3 results beat Wall Street expectations, with EPS at $2.65 on revenue of $16.3 billion, compared to an estimated EPS of $2.45 on revenue of $16.1 billion. Despite the earnings beat, IBM shares declined 7% pre-market.
  • IonQ Inc. (IONQ), Rigetti Computing Inc. (RGTI), D-Wave Quantum Inc. (QBTS): These quantum-computing companies are in talks to give equity to the Commerce Department in exchange for federal funding, according to a report by The Wall Street Journal. Shares of the three companies were up between 7% and 11% pre-market.
  • Blackstone Inc. (BX), American Airlines Group Inc. (AAL), and Intel Corp. (INTC) are among the companies scheduled to report their latest quarterly earnings on Thursday.

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