U.S. stocks opened slightly lower, a day after Wall Street’s strongest rally in seven months, as investors were disappointed with IBM’s results and remained cautious ahead of the minutes of Federal Reserve’s latest meeting.
Shares of Infosys ended over 1 per cent higher after the company posted a better-than-expected 10.3 per cent net profit growth for the second quarter.
At 7:42 a.m. ET, Dow e-minis 1YMc1 were down 85 points, or 0.33 percent. S&P 500 e-minis ESc1 were down 8.5 points, or 0.30 percent and Nasdaq 100 e-minis NQc1 were down 27.5 points, or 0.37 percent.
Semiconductor industry bellwether ASML Holding NV’s better-than-expected third quarter results and bullish outlook gave sector stocks a boost on Wednesday after fears of slackening demand had dragged them down in recent months.
Shares of Netflix Inc (NFLX.O) soared 11 percent before the bell on Wednesday after the company put fears of a slowdown in growth to bed by racking up 7 million new subscribers between July and September.
Mediclinic (MDCM.L) on Wednesday flagged an 8 percent drop in core profit for the first six months of the year, hit by weaker-than-expected growth in admissions in Switzerland and a slow second quarter in South Africa, sending its shares tumbling.
Shares of Reliance Industries gave up all its early gains and ended over 1 per cent lower Wednesday ahead of its September quarter results to be announced later in the day.
Sensex snapped its three-day gains, plunging 383 points due to heavy selling mainly in financial and auto stocks as rising crude prices and rupee volatility spooked investors.
Shares in Softcat (SCTS.L) fell 10 percent after the British IT company said growth this fiscal year would not match levels seen in the year to the end of July, when its revenue rose 30 percent to top 1 billion pounds ($1.3 billion).