What's moving markets today
IBM (IBM) reported stronger-than-expected earnings late Tuesday and its stock in premarket trading is reflecting that: Shares are up more than 6%.
The technology conglomerate's revenue for the fourth quarter came in at $21.76 billion, topping analysts' expectations of $21.73 billion. And, unlike several other companies that adjusted their 2019 guidance downwards, IBM expects its earnings per share will come in slightly higher this year.
"In 2018 we returned to full-year revenue growth, reflecting growing demand for our services and leadership solutions in hybrid cloud, AI, analytics and security," said IBM CEO Ginni Rometty in a statement.
Capital One (COF) shares are sliding more than 5% after missing on expected revenue.
The financial company's fourth-quarter revenue came in at $7.01 billion, a touch lower than analysts' expectations of $7.08 billion.
But it improved its net income from the same period in 2017, reporting $1.3 billion for the fourth quarter of 2018 compared to a $971 million loss a year earlier.
Global economic concerns continue to take center stage at the World Economic Forum.
Japan's Prime Minister, Shinzo Abe, and German Chancellor Angela Merkel are also scheduled to speak.
And investors will be watching Chinese Vice President Wang Qishan, who will take the stage a day after trade tensions appeared to flare up again.
The White House declined an invitation from Beijing to hold preliminary trade talks ahead of a new round of negotiations scheduled for later this month in Washington, a person familiar with the matter told CNN.
That news sent US stocks plummeting on Tuesday.
They later recovered slightly after White House economic adviser Larry Kudlow denied any meeting was planned.
US stock futures are pointing slightly higher, suggesting a possible recovery from Wall Street's downbeat session on Tuesday.
Coming up, it's a big day of earnings: