Premarket trading on Wall Street was mixed Wednesday as more companies posted their latest earnings and uncertainty over President Donald Trump’s trade war lingered, according to the Associated Press. Futures for the S&P 500 turned 0.3% lower, while futures for the Dow Jones Industrial Average inched up 0.1%. Nasdaq futures fell about 0.5%.
Starbucks tumbled nearly 9% after the coffee chain missed analysts’ sales and profit forecasts for the second quarter. Starbucks did log its first quarterly sales increase in more than a year, but acknowledged that its turnaround effort is far from complete.
Visa shares ticked up less than 1% after the credit card company beat Wall Street’s second-quarter sales and profit targets. The company said consumer spending remained resilient last quarter, somewhat contrary to recent consumer confidence surveys that showed Americans increasingly concerned about the impact of Trump’s tariffs.
In energy markets, U.S. benchmark crude oil lost 45 cents to $59.97 per barrel. Brent crude, the international standard, shed 43 cents to $62.85 per barrel.
The U.S. dollar rose to 142.93 Japanese yen from 142.35 yen.
