Stock futures slip follows from October: Live Updates

Stock futures for the quarter starting in October and ending in 2024 slipped early on Wednesday.

The future is bound Dow Jones Industrial Average 158 points lost, while S&P 500 futures And Nasdaq-100 futures Ticked about 0.3% and 0.35% less respectively.

At work after hours, Nike The sneaker giant slid more than 5% after pulling its full-year guidance ahead of its CEO change. Elliott Hill will lead Nike on October 14. The apparel company's fiscal first-quarter earnings topped Wall Street estimates, but revenue missed the mark.

The major averages are closing the session in losses as rising tensions in the Middle East reduce risk appetite and investor enthusiasm for the new trading session. D Dow Jones Industrial Average A drop of over 173 points, while S&P 500 And Nasdaq Composite Decreased by 0.93% and 1.53% respectively.

Oil prices rose on Tuesday CBOE Volatility Index (.VIX) Iran is sensational as it fires ballistic missiles at Israel. The attack comes as Israel launches a ground offensive in Lebanon and tensions rise with Iran-backed militant group Hezbollah.

“We came into the day with concerns about how long the port strike would affect markets and potential economic growth, but those concerns quickly shifted to the Middle East,” said Ryan Detrick, chief market strategist at Carson Group. “The big concern now is whether this conflict escalates into a larger-scale war across the region, which could certainly be a big surprise in October.”

Technology was the worst performing sector on Tuesday. The S&P 500's information technology sector fell 2.7% and registered its worst session in nearly a month, leading megacaps such as apple, Nvidia, Microsoft And Tesla. US Treasury yields fell as investors sought safe havens.

Ahead of Friday's keynote September jobs report, Wall Street will gain insight into personal pay conditions on Wednesday with ADP's employment survey. Friday's nonfarm payrolls report could play a major role in market direction and the Federal Reserve's next rate move as its cutting cycle begins.

Correction: Ryan Detrick is Chief Market Strategist at Carson Group. An earlier version misidentified the firm.