Before the bell: SpaceX jumps 9% on Tesla merger talks as France's 10-year touches 5%

U.S. stock futures were mixed early Wednesday as traders worked through a heavy run of earnings. CNBC reported that S&P 500 futures were up 0.11%, Nasdaq-100 futures up 0.44% and Dow futures about 0.1% lower. On Tuesday the Dow rose nearly 530 points, or 1%, helped by a more than 5% jump in 3M after it raised its full-year profit guidance, while the S&P 500 gained 0.3%. Our close report has the session.

SpaceX and Tesla

SpaceX shares rose about 9% in premarket trading after the company reported third-quarter revenue up 161%, and after Elon Musk said SpaceX and Tesla have formed special committees to discuss a merger, according to CNBC. Tesla was up more than 2%. Netflix fell more than 6% premarket after reporting its slowest sales growth in three years. See our reports on SpaceX's quarter, the merger committees and Netflix. Meta, IBM, Tesla and Southwest also report; the earnings preview has the details.

France crosses 5%

The yield on France's benchmark 10-year bond briefly rose above 5% on Wednesday, the first time since 2002, and was near 4.98% afterward, CNBC reported. Investors are weighing violent protests over the weekend and a divided parliament trying to pass a 2027 budget with 54 billion euros of spending cuts. France's deficit was 5.1% of GDP at the end of last year. Carrefour fell 10.6% in early trading after cutting its profit forecast, citing the unrest and energy costs.

Rates and inflation abroad

UK consumer prices rose 3.5% in the 12 months to September, above the 3.4% economists expected, with motor fuel up 29.8%, CNBC reported. Markets price a 98% chance the Bank of England raises its rate 25 basis points to 4% next month, per LSEG data cited by CNBC.

In the U.S., the Treasury's official Tuesday closes were 5.12% on the 10-year, 4.79% on the 2-year and 5.42% on the 30-year, from 5.15%, 4.77% and 5.48% on Monday. Our economic calendar shows no major U.S. release today. Jobless claims are due Thursday, forecast at 200,000, and the Fed meets October 28, where the board's forecast is for the funds rate to stay at 3.875%.

Oil

Brent was up 0.86% at $109.73 a barrel and WTI up 0.78% at $98.58 at 3:33 a.m. ET, CNBC reported, as Iran's Revolutionary Guards said mines stopped tankers using unauthorized routes through the Strait of Hormuz and Houthi militants claimed strikes on Saudi Aramco sites. A Goldman Sachs report put average crude freight at above $20 a barrel, from $3 a year earlier. Freight like that feeds into refined fuel costs; United's fuel assumption shows how airlines are budgeting for it.

Crypto

On the Chronicle board at 6:31 a.m. ET, Coinbase had Bitcoin at $83,203.89, up 2.15% over 24 hours, and Ether at $2,446.70, up 2.62%. Live prices: crypto prices.

Sources: CNBC, U.S. Treasury, Chronicle markets board and Coinbase Exchange (quotes at 6:31 a.m. ET, may be delayed). Premarket moves can reverse and early volume is thin. This is market information, not investment advice.