US stock futures took a breather on Wednesday as investors digested results from Morgan Stanley (MS) and others to potentially power a rebound to record highs after an ASML (ASML)-fueled slide.

Futures on the S&P 500 (ES=F) and Dow Jones Industrial Average (YM=F) hugged the flatline, while contracts on the tech-heavy Nasdaq 100 (NQ=F) were up 0.1%.

All three major gauges pulled back from all-time highs on Tuesday as ASML’s deep cut to its 2025 sales forecast dented faith within the AI chip trade, driving down stocks like Nvidia (NVDA). Markets are on alert for any fresh news from ASML on the day the chip tool maker’s apparently by accident released earnings were scheduled to land.

Morgan Stanley’s quarterly report before the bell showed fresh signs of the Wall Street comeback that has boosted big bank earnings this week. Profits jumped in comparison with last yr, because of an increase in dealmaking that has also lifted its peers.

At the identical time, disappointing earnings from ASML, UnitedHealth Group (UNH) and luxury stalwart LVMH (MC.PA, LVMUY) have an otherwise bullish Wall Street looking out for signs of weakness elsewhere. Abbott (ABT), Alcoa (AA), and Discover Financial Services (DFS) are on the docket on Wednesday.

In commodities, gold (GC=F) rallied toward a fresh record high as fresh tariff guarantees from Republican nominee Donald Trump added to uncertainty across the final result of the tight US presidential race.