By Oliver Gray
Investing.com - U.S. stock futures traded lower in early APAC deals on Wednesday, after major benchmark indices retreated from record highs and snapped 8 sessions of consecutive gains during the regular session as investors remained cautious ahead of key inflation data.
During Tuesday’s session, the Dow Jones Industrial Average shed 112.24 points, or 0.3%, to 36,319.98, the S&P 500 fell 16.43 points or 0.35% to 4685.26, while the Nasdaq Composite ticked down 95.81 points or 0.6% to 15,886.54.
Dow Jones 30 Futures lost 0.15%, S&P 500 Futures fell 0.12% and Nasdaq 100 Futures dipped 0.19%.
Among stocks, Tesla Inc (NASDAQ:TSLA) dipped 12% in regular deals extending losses for the second consecutive session after CEO Elon Musk over the weekend proposed selling 10% of his shares in a Twitter (NYSE:TWTR) poll over the weekend. Meantime, earnings season continues, with Coinbase (NASDAQ:COIN) down 10.27% after-hours following earnings results that missed analysts’ expectations. DoorDash Inc (NYSE:DASH) surged 17.83% after reporting quarterly results and announcing the acquisition of Finland-based delivery app Wolt. Poshmark Inc (NASDAQ:POSH) also cratered 26.54% in extended deals after reporting weaker than expected quarterly results.
In recent data, the October producer price index increased 0.6% month over month, in line with expectations, while wholesale prices jumped, recording the hottest annual pace in nearly 11 years. Later in the session, investors will be watching for the release of the October consumer price index which is expected to show a 0.6% jump compared to the prior month.