07:25 AM EDT, 10/23/2024 (MT Newswires) -- US benchmark equity indexes were pointing lower in Wednesday's premarket activity as investors await the latest quarterly results from several major companies.

Standard & Poor's 500 was down 0.2%, the Nasdaq declined 0.4% and the Dow Jones Industrial Average was off 0.5% before the opening bell. Asian exchanges were mostly heading north while the majority of European bourses were trending downwards.

Coca-Cola (KO), Thermo Fisher Scientific ( TMO ) , NextEra Energy (NEE), AT&T ( T ) , Boston Scientific ( BSX ) , Boeing ( BA ) , General Dynamics ( GD ) , GE Vernova ( GEV ) and Hilton Worldwide ( HLT ) report their latest financial results early Wednesday, among others.

Electric vehicle manufacturer Tesla (TSLA), T-Mobile US ( TMUS ) , International Business Machines ( IBM ) , ServiceNow ( NOW ) and O'Reilly Automotive (ORLY) are scheduled to release earnings after the markets close.

Shares of McDonald's (MCD) dropped 7.4% pre-bell as US health authorities said they are investigating an E. coli outbreak in several states linked to the fast-food giant's Quarter Pounder burgers. Starbucks ( SBUX ) fell 4.9% as the coffee giant reported downbeat preliminary fiscal fourth-quarter results and suspended its full-year 2025 guidance.

Qualcomm ( QCOM ) stock fell 4.7% following media reports that ARM Holdings (ARM) canceled its architectural license agreement with the company.

On the economic calendar, the weekly mortgage applications bulletin is out at 7 am ET, followed by the existing home sales report for September and the Atlanta Fed Business Inflation Expectations report for October at 10 am. The weekly EIA domestic petroleum inventories report is due at 10:30 am.

The Beige Book, a compilation of economic and business reports from the 12 regional Federal Reserve branches, posts at 2 pm. Fed Governor Michelle Bowman is set to speak at 9 am, while Richmond Fed President Thomas Barkin speaks at 12 pm.

In premarket activity, bitcoin declined 1.5% to $66,493, West Texas Intermediate crude oil decreased 1.9% to $70.41 a barrel, yields on 10-year Treasuries advanced 1.6 basis points to 4.22% and gold edged 0.2% higher to $2,766 an ounce.