U.S. stock index futures were flat on Wednesday as investors weighed the impact of supply chain constraints and inflation on corporate earnings, while Netflix shares remained sluggish after its quarterly report.
Its shares, however, fell 2.7% after hitting a record high earlier this month and gaining 18.2% year-to-date.
Analysts expect S&P 500 earnings to rise 32.4% from a year earlier, according to Refinitiv data, while also keeping a close eye on growth outlook from companies that are faced with rising costs, labor shortages and supply chain disruptions. "Investor response to the latest set of earnings reports has been a touch hit and miss with supply chain issues dogging both Procter and Gamble and Philip Morris," wrote Danni Hewson, financial analyst at AJ Bell in a client note.
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