Stock futures pulled back on Wednesday morning after a record-setting session powered by strong corporate earnings. Futures tied to the Dow Jones Industrial Average fell 27 points, or 0.1%. S&P 500 futures also dropped 0.1%, while Nasdaq 100 futures slipped 0.3%. Traders pored through a flurry of new earnings reports. Netflix shares slumped 7% after the company posted an earnings miss, while Intuitive Surgical shares rallied 17% on the back of its strong earnings and revenue results. Strong quarterly results given earlier from companies such as Coca-Cola had powered the Dow Jones Industrial Average to a fresh high above 47,000 at one point Tuesday. The 30-stock index closed the session just below that mark at a record high.The S&P 500 was relatively unchanged to end the day, meanwhile, and the Nasdaq Composite finished slightly lower as some risk-on technology names lost steam. President Donald Trump commented about his expected meeting next week with Chinese President Xi Jinping, noting that “maybe it won’t happen.” That prompted uncertainty about trade tensions between the U.S. and China that could lead to higher tariff rates and issues that could impact the semiconductor industry. Still, investors are hopeful that the flurry of upcoming earnings reports could be the next catalyst that U.S. equities need to keep rallying. Tesla’s earnings expected Wednesday after the bell will kick off highly-awaited reports from the “Magnificent Seven” megacap tech group. More than three-quarters of the S&P 500 companies that have posted results so far have beaten expectations, according to FactSet. “Ultimately, if earnings come in better than expected, and if the tech stocks really prove that the AI trade is intact, you have your next leg higher from here,” Alicia Levine, BNY Wealth head of investment strategy and equities, said on CNBC’s “Closing Bell.” “You really have to get through that 6,800 level on the S&P to really be convinced that there’s another leg here. That’s on the technical side, but on the fundamental side, I think we get there,” Levine added. The September consumer price index report due Friday is another key event traders are awaiting this week, particularly because all other data releases have been suspended during the U.S. government shutdown. The inflation data should give central bankers more information ahead of their upcoming meeting in late October. Markets are widely expecting the Federal Reserve to announce a quarter percentage point reduction in the overnight borrowing rate, and likely another cut in December. U.S. Treasury yields moved lower on Wednesday as investors turned their attention to the upcoming inflation report which is set to offer much-needed insights during an economic data blackout. The benchmark 10-year Treasury yield slid more than 2 basis points to 3.94%. The 2-year Treasury note yield fell more than 1 basis point to 3.442%, while the 30-year bond yield dropped more than 2 basis points to 4.521%. Asia-Pacific markets were mixed Wednesday as investors assessed trade data from Japan and the country’s new leadership. Japan’s Nikkei 225 ended the day just below the flatline at 49,307.79, while the Topix index gained 0.52% to 3,266.43, a new closing record. South Korea’s markets bucked the wider fall in the region, with the Kospi setting a new closing record of 3,883.68, up 1.56% and marking its sixth straight winning session. The small-cap Kosdaq rose 0.76% to 879.15. Hong Kong’s Hang Seng index slipped 0.94% and closed at 25,781.77. Shares of Labubu doll maker Pop Mart, which reported a 250% surge in revenue for the third quarter on Tuesday, were up 2.4%. Mainland China’s CSI 300 was 0.33% lower, ending at 4,592.57. Australia’s S&P/ASX 200 fell 0.71% to 9,030. Oil prices pushed higher for a second day on Wednesday, rising by about 2%, buoyed by hopes of progress of a U.S. trade deal with China and India. Brent crude futures rose 96 cents, or 1.6%, to $62.28 a barrel, while U.S. West Texas Intermediate crude futures climbed 95 cents, or 1.7%, to $58.19. “Oil prices climbed after reports suggested the U.S. and India are close to finalising a trade deal that could see India gradually cut imports of Russian crude, potentially lifting demand for other grades,” MUFG analyst Soojin Kim said. Gold prices extended declines on Wednesday, following their steepest daily fall since 2020 in the previous session, after an initial recovery gave way to renewed selling with investors locking in profits and a stronger dollar adding pressure.Spot gold was down 1.4% at $4,067.31 per ounce, reaching a near two-week low, after rising as much as $4,161.17 earlier in the session. U.S. gold futures for December delivery fell 0.7% to $4,081.30 per ounce. The U.S. dollar index hovered near a one-week high, making dollar-priced bullion more expensive. Bullion prices fell 5.3% on Tuesday, after notching a record high of $4,381.21 in the preceding session. Prices have gained 54% so far this year, supported by geopolitical and economic instability, U.S. rate-cut expectations, and robust ETF inflows.