Stock markets today: US futures take a post-ASML break with fresh earnings on the day

U.S. stock futures took a breather Wednesday as investors digested results from Morgan Stanley ( MS ) and others to fuel a rebound to record highs after an ASML ( ASML )-fueled slide.

S&P 500 (ES=F) and Dow Jones Industrial Average (YM=F) futures hugged the flatline, while tech-heavy Nasdaq 100 (NQ=F) contracts rose 0.1%.

All three major gauges retreated from all-time highs on Tuesday as ASML's deep cut to 2025 sales forecasts dampened confidence in the AI ​​chip trade, dragging down stocks like Nvidia ( NVDA ) . Markets are on alert for any new news from ASML on the same day that the chip tool maker's apparently accidentally released earnings were scheduled to land.

Morgan Stanley's quarterly report earlier in the hour showed fresh signs of a Wall Street rebound that boosted big bank earnings this week. Profits jumped compared to last year, thanks to increased dealmaking that also lifted its peers.

At the same time, disappointing earnings from ASML, UnitedHealth Group ( UNH ) and luxury stalwart LVMH ( MC.PA , LVMUY ) have an otherwise Wall Street looking for signs of weakness elsewhere. Abbott ( ABT ), Alcoa ( AA ), and Discover Financial Services ( DFS ) are on the docket Wednesday.

In commodities, gold (GC=F) headed for a fresh record as Republican nominee Donald Trump's fresh tariff pledge added to uncertainty surrounding the outcome of the tight US presidential race.