Powell to speak, SoftBank's loss, Disney's earnings beat - what's moving markets
Investing.com -- U.S. stock futures are mixed on Thursday following a relatively muted session on Wall Street, with traders looking ahead to comments from Federal Reserve Chair Jerome Powell later in the day. In corporate earnings, SoftBank (TYO:9984) slips to a quarterly loss as the Japanese tech investment giant is impacted by the bankruptcy of WeWork, while Walt Disney (NYSE:DIS) reports better-than-expected earnings thanks to strength at its streaming business and some of its theme parks. Elsewhere, Hollywood actors reach a tentative deal with major studios to end their 118-day strike.
1. Futures mixed after muted day on Wall Street
U.S. stock futures were mixed on Thursday, but did not stray too far from the flatline, after a muted day for the major indices on Wall Street.
By 04:52 ET (09:52 GMT), the Dow futures contract had added 20 points or 0.1%, S&P 500 futures were mostly flat, and Nasdaq 100 futures dipped by 19 points or 0.1%.
On Wednesday, the S&P 500 eked out a gain of 0.1%, although it marked the eighth consecutive positive session for the benchmark index — its longest winning streak since 2021. The tech-heavy Nasdaq Composite also gained 0.1%, while the 30-stock Dow Jones Industrial Average slipped by 0.1%.
Longer-dated U.S. Treasury yields declined following a better-than-anticipated 10-year note auction, in a sign that investors continue to believe that the Federal Reserve is likely done with its long-standing hiking cycle. The yield on 10-year note, which moves inversely to prices, has now dipped by over 40 points since the U.S. central bank left interest rates unchanged at its latest meeting on Nov. 1.
Traders will be eyeing remarks from Federal Reserve Chair Jerome Powell at a conference in
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