07:36 AM EDT, 10/22/2025 (MT Newswires) -- The main US stock measures were trending lower in Wednesday's premarket activity as President Donald Trump signaled that his anticipated meeting with Chinese President Xi Jinping may not take place, while investors prepare for another round of corporate earnings, including results of electric vehicle and technology giant Tesla (TSLA).

The S&P 500 and the Dow Jones Industrial Average were slightly in the red before the opening bell, while the Nasdaq was down 0.2%. The S&P 500 finished Tuesday just above the flatline, the Dow rose for a third straight session to reach a new peak, while the Nasdaq ended lower.

Trump reportedly said Tuesday that there was a possibility his highly anticipated meeting with Xi Jinping may not happen. "Things can happen where, for instance, maybe somebody will say, 'I don't want to meet, it's too nasty,'" according to Trump. "But it's really not nasty, it's just business," he added.

However, Trump also noted that he has a "great relationship with President Xi" and expects to "make a good deal with him." Trump and Xi Jinping are likely to meet on the sidelines of an economic conference in South Korea next week.

Tensions between the US and China were renewed recently after Beijing moved to restrict exports of rare earths minerals, prompting Trump to announce additional 100% tariffs on Chinese goods, effective Nov. 1.

Meanwhile, the US and India are reportedly close to reaching a trade deal that will see tariffs on the Asian country reduced to 15% to 16% from 50%, according to media outlets. In August, Trump raised tariffs on India due to its Russian oil purchases.

The US federal government shutdown entered its 22nd day on Wednesday as the Senate once again rejected the House-passed short-term spending bill earlier in the week, NBC News reported.

Treasury yields were down before the open, with the two-year rate edging down 0.2 basis points to 3.46% and the 10-year rate retreating 0.6 basis points to 3.96%.

Tesla is scheduled to report its latest quarterly results after the markets close, along with International Business Machines ( IBM ) , O'Reilly Automotive (ORLY), United Rentals ( URI ) and Southwest Airlines ( LUV ) . Thermo Fisher Scientific ( TMO ) , AT&T ( T ) , Boston Scientific ( BSX ) , Hilton Worldwide ( HLT ) and Northern Trust ( NTRS ) are some of the major companies posting earnings before the bell, among others.

Shares of Netflix ( NFLX ) dropped 6.4% pre-bell as the streaming giant's third-quarter earnings trailed market estimates. Intuitive Surgical ( ISRG ) climbed 16% after reporting better-than-expected third-quarter results, while Texas Instruments ( TXN ) fell 7.9% following its latest financial results.

Beyond Meat's ( BYND ) stock surged 83% early Wednesday after closing the previous session up 146%. Krispy Kreme (DNUT) spiked 29%.

The economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am. Federal Reserve Governor Michael Barr is scheduled to speak at 4 pm.

West Texas Intermediate crude oil increased 1.4% to $58.02 a barrel in premarket action. Gold decreased 0.5% to $4,089 per troy ounce, while bitcoin slipped 3.6% to $107,879.