07:15 AM EDT, 10/30/2024 (MT Newswires) -- The main US stock measures were mostly pointing higher in Wednesday's premarket activity as traders digest Alphabet's (GOOG, GOOGL) latest financial results and await more big tech earnings along with a key economic growth report.

Standard & Poor's 500 and the Nasdaq increased 0.2% each before the opening bell, while the Dow Jones Industrial Average declined 0.3%. The majority of Asian exchanges were trending downwards, while European bourses were heading south midday on the continent.

Google ( GOOG ) parent Alphabet's shares spiked 6.1% before the bell as the company reported stronger-than-expected third-quarter results. Advanced Micro Devices ( AMD ) dropped 8.5% as the chipmaker issued a downbeat fourth-quarter revenue outlook at the midpoint. Chipotle Mexican Grill ( CMG ) fell 7.4% while Reddit ( RDDT ) jumped 24% following their quarterly results.

Technology giants Microsoft ( MSFT ) and Meta Platforms ( META ) are scheduled to release their financial statements after the markets close Wednesday, along with Amgen ( AMGN ) , Starbucks ( SBUX ) , DoorDash ( DASH ) , Carvana ( CVNA ) and eBay ( EBAY ) .

Eli Lilly ( LLY ) , AbbVie ( ABBV ) , Caterpillar ( CAT ) , Hess (HES), Kraft Heinz ( KHC ) , GE HealthCare Technologies ( GEHC ) , Humana (HUM), Biogen (BIIB) and Global Payments ( GPN ) post earnings before the bell, among others.

Investors will be waiting for the initial estimate for third-quarter gross domestic product at 8:30 am ET. Also on Wednesday's economic calendar, the mortgage applications bulletin is out at 7 am, followed by the ADP Employment Report for October at 8:15 am.

The National Association of Realtors pending home sales index for September is due at 10 am, followed by the weekly EIA domestic petroleum inventories report at 10:30 am. The Federal Reserve Bank of Atlanta's Survey of Business Uncertainty for the current month posts at 11 am.

In premarket activity, bitcoin decreased 0.7% to $72,345, West Texas Intermediate crude oil rose 0.9% to $67.83 a barrel, yields on 10-year Treasuries declined 5.4 basis points to 4.22% and gold inclined 0.5% to $2,796 an ounce.