U. S.
stock futures declined early Thursday, October 22, 2026, as investors assessed third-quarter results from Meta Platforms and Tesla.
The retreat came amid falling global equity markets and rising oil prices, following a positive session on Wall Street.
Nasdaq futures fell 1.8%, reflecting pressure on technology shares after a recent rally.
Meta Gains, Tesla Slips After Earnings
Meta shares rose 0.74% in premarket trading after the company reported stronger-than-expected revenue and issued a positive outlook for the current quarter.
Tesla shares dropped 4.59% despite delivering better-than-expected third-quarter revenue and earnings, according to CNBC's market coverage.
Meta's results drew attention to its artificial intelligence investments and spending plans.
Dan Ives, a partner and senior managing director at Yorkville Ives, said in his post-earnings analysis that the quarter showed the AI investment paying off in the core.
Ives also assessed the company's spending outlook as better controlled than feared.
Meta narrowed the range of its full-year capital expenditure forecast for data centers, according to CNBC.
Investors also considered Nvidia's announcement of plans to expand global manufacturing capacity to meet demand for its accelerated computing products and full-stack AI factory platform.
In the previous session, the S&P 500 extended its winning streak to three days, while the Dow Jones Industrial Average gained 360 points.
The Nasdaq Composite advanced 1%, supported by enthusiasm surrounding artificial intelligence and strong quarterly results from SpaceX, which also helped lift Micron Technology and Advanced Micro Devices.
Semiconductors and Global Markets Under Pressure
Premarket declines extended across the semiconductor sector.
Intel and Marvell Technology each fell more than 5%, while Micron Technology declined 3.5%, Qualcomm lost 2.94% and Nvidia slipped 2.2%.
Asian equities also came under pressure as technology stocks sold off.
The MSCI All Country Asia Pacific ex-Japan Index fell more than 2% to its lowest level in nearly three months, putting it on track for a fourth consecutive weekly decline.
Japan's Nikkei 225 fell 2.6% to 62,907.84, while the Topix declined 1.1% to 3,997.5.
South Korea's Kospi dropped 3.52% to 5,533.77, and the Kosdaq lost 3.6% to 764.1.
China's CSI 300 fell 1.8% to 4,036.30, while Hong Kong's Hang Seng Index declined 3% in the final hour of trading.
European markets opened lower, with the pan-European Stoxx 600 falling 0.78% shortly after 8:10 a. m.
in London.
Basic resources led sector losses with a 2.22% decline, followed by travel and leisure stocks, which fell 1.94%, and banks, which lost 1.93%.
Technology shares dropped 1.79%, while food and beverage stocks gained more than 1%.
France's CAC 40 declined 0.82%, Italy's FTSE MIB fell 0.96%, and Germany's DAX opened 0.73% lower.
U. K.
FTSE 100 futures slipped 0.54%.
French government borrowing costs also remained elevated, with the 10-year OAT yield rising nearly 6 basis points to 5.0514%.
Luxury group Hermès faced additional pressure after reporting third-quarter revenue growth alongside weaker demand from Chinese consumers.
Revenue increased 4.3% to 4.1 billion euros, equivalent to $4.6 billion, supported by growth in the Americas, Japan and Europe.
However, sales in ready-to-wear and accessories, as well as watches, declined during the quarter.
Eric du Halgouet, Hermès' chief financial officer, said the volume divisions were suffering in China, citing fashion accessories as well as watches and shoes.
He attributed the pressure to lower store traffic and said the company had offset the drop in footfall with greater value.
Hermès also said it had strengthened security measures for employees and stores following recent protests in Paris, although it said it was too early to assess the effects on business and tourism.
Its shares fell nearly 7% during Thursday's trading, making it one of the weakest performers in the Stoxx 600.
Consumer spending remained another concern for global businesses.
Nestlé CEO Philipp Navratil told CNBC that the U. S.
market remained challenging despite strong global third-quarter results, as households faced budget constraints and increasingly sought lower prices.
Navratil said U. S.
numbers were good in the third quarter but consumers remain cautious, describing the environment as not easy at all.
He said shoppers look for value and are stretched at the end of the month, requiring the company to adapt its portfolio to the right price points.
Nestlé reported organic sales growth of 4% in the third quarter, according to CNBC's report.
Investors were also preparing for Thursday's U. S.
economic calendar, which included weekly initial jobless claims, alongside earnings reports expected from Procter & Gamble, Lockheed Martin, Valero Energy and Honeywell.
