Investing.com - U.S. stock futures were trading higher during Wednesday's evening deals, following a negative session among major benchmark indices as Fitch's recent long-term credit downgrade of the United States soured sentiment.
In extended deals, PayPal (NASDAQ: PYPL ) lost 6.8% after the company reported Q2 EPS of $1.16 versus $1.15 expected, while revenues were reported at $7.29 billion versus estimates of $7.27B. PayPal also forecasted Q3 2023 EPS in the range of $1.22-$1.24 versus $1.22 expected and revenues of $7.4B versus $7.32B expected.
Qualcomm (NASDAQ: QCOM ) dropped 7.1%, reporting Q3 EPS of $1.87 versus $1.81 expected, with revenue reported at $8.44B versus $8.51B expected. Qualcomm forecasted Q4 2023 EPS in the range of $1.80-$2.00 versus $1.91 expected, while revenues are expected in the range of $8.1B-$8.9B versus $8.7B expected.
On the earnings front, major companies reporting quarterly results include Apple (NASDAQ: AAPL ), Amazon.com (NASDAQ: AMZN ), ConocoPhillips (NYSE: COP ), Airbnb (NASDAQ: ABNB ), and Booking Holdings (NASDAQ: BKNG ).
During Wednesday's regular session, the Dow Jones Industrial Average dipped 348.2 points or 1% to 35,282.5, the S&P 500 slipped 63.3 points or 1.4% to 4,513.4, and the Nasdaq Composite lost 310.5 points or 2.2% to 13,973.5.
Among data releases, ADP nonfarm employment change data came in well above expectations at 324K, while falling from the previous month's reading of 455K.
On the bond markets, United States 10-Year rates were at 4.088%.
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