U.S. stock market futures jumped Wednesday, following three days of sharp declines, as a batch of stronger-than-expected earnings reports helped offset disappointment from Apple's results and worries over the euro zone.
Apple tumbled after the iPhone missed quarterly resultsby a wide margin and handed in current-quarter guidance that disappointed analysts. In addition, at least three brokerages cut their price targets on the firm. Apple's weak results will likely weigh on the tech sector. (Read More:
Among other earnings, Caterpillar
PepsiCo posted better-than-expected earnings, thanks to price increases, and maintained its full-year outlook.
Meanwhile, ConocoPhillips reported a decline in earnings, hurt by lower energy prices and a drop in output.
Netflix plunged after the movie-streaming company issued a cautious subscriber outlook and said a push into a fourth international market in the fourth quarter will lead to a loss. But the company still topped earnings expectations. Netflix shares have dropped more than 30 percent in the last six months.