ZACKSยท2025-10-22 15:36Market Overview - Pre-market futures are showing a flat trend with a slight downward bias following a record closing high for the Dow on Tuesday [1] - The Dow is down 9 points, S&P 500 is up 3 points, Nasdaq is down 38 points, and Russell 2000 is down 9 points at this hour [1] Federal Reserve Insights - Fed Governor Michael Barr is scheduled to make appearances ahead of the upcoming monetary policy decision from the FOMC [2] - Analysts are nearly unanimous in expecting a 25 basis-point rate cut next Wednesday, which would lower the Fed funds rate to a range of 3.75-4.00% [2] Q3 Earnings Reports - AT&T (T): Reported Q3 earnings of 54 cents per share, missing estimates by 1 cent, with revenues of $30.71 billion, down 0.81% from estimates. Shares are down 1.6% [3] - Thermo Fisher (TMO): Reported earnings of $5.79 per share, beating estimates of $5.50, with revenues of $11.12 billion, exceeding expectations by 2%. Shares are up 2% [4] - GE Vernova (GEV): Reported earnings of $1.64 per share, missing the consensus of $1.78 by 7.87%, but revenues of $9.97 billion were 8.62% higher than anticipated. Shares are up 3.8% [5] - Teck Resources (TECK): Reported earnings of 55 cents per share, surpassing projections by 41%, with revenues of $2.46 billion, exceeding consensus by 14.3%. This company may gain relevance due to rare earth negotiations with China [6] Upcoming Earnings Expectations - Tesla (TSLA): Expected to report negative earnings per share, down 26.4% year over year, but with a 5% increase in revenues. Shares are up 9.6% year to date [7] - IBM: Anticipated to report earnings 6% higher and revenues up 7.57% for the quarter, with shares having gained 28% since the start of the year [9] - Southwest Airlines (LUV): Facing a tough year-over-year comparison with expected earnings growth down 93% but a slight revenue increase of 1.44% [9]