Stock Market Today: US Stock Futures Fall After Tesla and Meta Earnings

TLDR

U.S. stock futures fell early Thursday after Tesla and Meta Platforms reported third-quarter results. Tesla beat estimates but cut its 2026 capital spending forecast to about $20 billion, and its shares fell in extended trading. Elon Musk said Tesla and SpaceX formed a special committee to explore a possible merger, with no deal agreed. Meta’s revenue rose 26% to $64.6 billion, beating estimates, and its shares rose in extended trading. Brent crude traded above $110 a barrel, and French bond yields hit their highest level since 2002.

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U.S. stock futures fell early Thursday after investors reviewed third-quarter earnings from Tesla and Meta Platforms. The reports came after the market close on Wednesday.

S&P 500 futures fell between 0.7% and 0.9%. Nasdaq 100 futures dropped between 1.3% and 1.6%, and Dow Jones futures slipped between 0.3% and 0.5%.

E-Mini S&P 500 Dec 26 (ES=F)

Asian markets traded lower. South Korea’s Kospi fell more than 1%, and Japan’s Nikkei 225 declined 0.73%. Hong Kong’s Hang Seng Index was down more than 2%.

Tesla and Meta Results Drive Early Moves

Tesla beat analyst expectations for quarterly earnings and revenue. Its shares still fell between 3% and 5% in extended trading.

The company cut its 2026 capital spending forecast to about $20 billion. It had earlier projected more than $25 billion.

Elon Musk said Tesla and SpaceX formed a special committee to explore a possible merger. No agreement has been reached on terms, and there is no guarantee a deal will go ahead.

SpaceX shares fell more than 2% in extended trading. The company reported strong quarterly results and flagged the possible merger with Tesla.

Meta reported earnings of $3.83 per share. Analysts had expected $3.57.

Revenue rose 26% from a year earlier to $64.6 billion. That topped estimates of $63.34 billion.

Advertising growth and higher engagement across its platforms supported the results. A large legal settlement added to quarterly costs.

Meta shares rose between 1% and 2% in extended trading. The company gave a positive outlook for the current quarter and narrowed its range for full-year data center spending.

Dan Ives of Yorkville Ives said the quarter showed AI investment paying off in the core business. He said spending was “better controlled than feared.”

Wall Street Closed Higher on Wednesday

The Nasdaq Composite rose 1.1% on Wednesday, the S&P 500 gained 0.6%, and the Dow added 0.7%. The S&P 500 notched a three-day win streak.

Strong results from SpaceX and Super Micro Computer supported the session. Super Micro also raised its fiscal first-quarter revenue outlook.

Brent crude traded above $110 a barrel in Asian trading. U.S. inflation concerns also kept attention on the Federal Reserve’s meeting next week.

In Europe, the yield on France’s 10-year bond rose nearly 6 basis points to 5.0514%. It closed Wednesday near 5.02%, the highest level since 2002. The CAC 40 fell 1.33% in early trade, and Hermes dropped 6.3% after missing revenue expectations.

Procter & Gamble, Lockheed Martin, Valero Energy, Honeywell and Western Digital are set to report results Thursday. Weekly initial jobless claims are also due in the morning.

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