Stock futures are little changed after Dow closes at another record high: Live updates

U.S. stock futures hovered near the flatline Wednesday evening after the Dow Jones Industrial Average closed at a record for the second time this week.

Dow futures lost 38 points, or 0.09%. Futures tied to the S&P 500 and Nasdaq 100 futures fell around 0.1% each.

Aluminum producer Alcoa jumped nearly 6% in extended trading after posting adjusted earnings that topped expectations. Transport stock CSX fell almost 4% on disappointing results.

During regular trading Wednesday, the blue-chip Dow advanced 0.79%. The S&P 500 rose 0.47%, while the tech-heavy Nasdaq Composite added 0.28%.

Earnings results from companies that have reported in the week, notably financials, indicate a "Goldilocks type of atmosphere, with resilient growth, fading inflationary pressures [and] a normalization of the economy," Adam Crisafulli, Vital Knowledge founder, said Wednesday on CNBC's "Closing Bell: Overtime."

"That, more than anything, has really helped put a bid underneath the market. It's helped catalyze a lot of these cyclical value groups, and we're seeing tech take a back step a little bit the last few days because of it," he said.

Indeed, the financials sector rose 1.2% on Wednesday, seeing a boost from Morgan Stanley. The bank rose 6.5% after topping estimates for third-quarter profit and revenue.

Corporate earnings are set to continue with insurance company Travelers, alternative asset manager Blackstone and health insurer Elevance Health slated to report Thursday morning. Regional banks KeyCorp, M&T Bank and Truist Financial are also on deck.

On the economic front, traders will be looking toward weekly jobless claims and September's retail sales due on Thursday. Industrial and manufacturing production data are also due.

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