07:16 AM EDT, 07/24/2024 (MT Newswires) -- US equity markets were tracking in the red in Wednesday's premarket activity as investors digest the latest quarterly results from technology giant Alphabet (GOOG, GOOGL) and electric vehicle maker Tesla (TSLA).

Standard & Poor's 500 declined 0.7%, the Dow Jones Industrial Average was down 0.4% and the Nasdaq decreased 1.1% before the opening bell. Asian and European exchanges were pointing lower.

Alphabet's shares dropped nearly 3% pre-bell as the Google ( GOOG ) parent delivered better-than-expected second-quarter results, but YouTube ( GOOG ) advertising revenue fell short of market estimates. Tesla stock slid almost 8% as the company's second-quarter earnings missed Wall Street's forecast. Credit card giant Visa (V) was down 3.4% after also disclosing its fiscal third-quarter results.

Thermo Fisher Scientific ( TMO ) , NextEra Energy (NEE), AT&T ( T ) , Boston Scientific ( BSX ) , Fiserv ( FI ) , General Dynamics ( GD ) and Roper Technologies ( ROP ) are scheduled to post earnings before the bell, among others. International Business Machines ( IBM ) , ServiceNow ( NOW ) , Chipotle Mexican Grill ( CMG ) and Ford Motor ( F ) announce quarterly results after market close.

On the economic calendar, the weekly mortgage applications bulletin posts at 7 am ET, followed by the July purchasing managers' index report from S&P Global at 9:45 am. The new home sales report for June is out at 10 am, while the weekly domestic petroleum inventories report is due at 10:30 am. The Atlanta Fed Survey of Business Uncertainty for July is set for an 11 am release.

Before the open, bitcoin traded up 1.2% at $66,523, West Texas Intermediate crude rose 0.8% to $77.61 a barrel, yields on 10-year Treasuries inched 0.2 basis points higher to 4.24% and gold gained 0.3% to $2,416 an ounce.