07:22 AM EDT, 05/08/2024 (MT Newswires) -- US equity markets were mixed to lower in Wednesday's premarket activity as traders digest the latest round of corporate earnings.

The S&P 500 futures were slightly in the red and the Nasdaq edged down 0.1% before the opening bell, while the Dow Jones Industrial Average was up 0.1%. The majority of Asian exchanges were pointing lower, while European bourses were trending north.

Arista Networks' ( ANET ) shares gained 8% pre-bell as the cloud networking company recorded stronger-than-expected first-quarter results. Lyft ( LYFT ) advanced 7.2% after the ride-hailing platform guided for sequential gross bookings growth in the current quarter. Reddit ( RDDT ) jumped 15% as the social media site reported financial results for the first time as a public entity and offered an upbeat second-quarter revenue outlook.

Uber Technologies ( UBER ) , Shopify ( SHOP ) , Emerson Electric ( EMR ) , Vistra ( VST ) and Fox (FOX, FOXA) report their latest financial results early Wednesday, among others. Airbnb ( ABNB ) , Trade Desk ( TTD ) , TKO Group ( TKO ) and News Corp. ( NWSA ) are set to disclose earnings after the markets close.

On the economic calendar, the weekly mortgage applications bulletin is out at 7 am ET, followed by the wholesale inventories report for March at 10 am. The weekly EIA domestic oil inventories report posts at 10:30 am.

Federal Reserve Vice Chair Philip Jefferson is scheduled to speak at 11 am, while Federal Reserve Bank of Boston President Susan Collins speaks at 11:45 am. Fed Governor Lisa Cook is slated to speak at 1:30 pm.

Before the bell, bitcoin declined 1.1% to $62,389, West Texas Intermediate crude decreased 0.9% to $77.66 a barrel, yields on 10-year Treasuries rose 1.8 basis points to 4.48% and gold dipped less than 0.1% to $2,324 an ounce.