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US pre-open: Futures mixed as corporate earnings remain in focus

(Sharecast News) - US futures were pointing to a mixed session ahead of the bell on Wednesday as market participants continue to thumb over corporate earnings. As of 1300 GMT, Dow Jones futures were down 0.11%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.05% and 0.13% firmer, respectively.

The Dow closed 141.24 points higher on Tuesday as results from several mega-cap tech stocks took centre stage.

Earnings remained firmly in focus ahead of the bell on Wednesday, with ridesharing giant Uber down 1% despite topping expectations, while Yum Brands was 1.3% lower after falling short of consensus estimates, and Snap plunged more than 30% on the back of a revenue miss and weaker-than-expected guidance.

Still to come, Disney, PayPal and Arm Holdings will all publish their latest set of quarterly results after the close.

On the macro front, US mortgage applications rose by 3.7% in the week ended 2 February, according to the Mortgage Bankers Association of America, trimming the 7.2% slump seen in the previous week and the fourth increase in the first five weeks of the year. Applications to refinance a home soared by 12.6%, while applications to purchase a new home, slipped 0.6%,

Still to come, December consumer credit change data will be released at 2000 GMT.

Elsewhere, Federal Reserve governors Michelle Bowman and Adriana Kugler will both deliver speeches throughout the course of the day.

Reporting by Iain Gilbert at Sharecast.com

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