Stock futures edged higher in overnight trading on Wednesday after the S&P 500 and the Dow Jones Industrial Average slipped from their record highs.

Dow futures were up 50 points S&P 500 futures and Nasdaq 100 futures both traded 0.1% higher.

Investors eagerly awaited the initial estimate third-quarter annualized gross domestic product growthFrom the Commerce Department. Dow Jones polled economists to predict a 2.8% increase in inflation. As products remained stuck at bustling ports and employers struggled find workers, the Commerce Department surveyed them.

On Wednesday, the S&P 500 slipped 0.5% for its first down day in three as the rally on a strong earnings season started to ease. For the fourth day in a row, the blue-chip Dow plunged more than 250 point.

The earnings momentum has seen major averages move higher this month. The S&P 500 has gained 5.6% in October, on pace to post its best month since November 2020. The Dow Composite is up 4.9% while tech-heavy Nasdaq Composite rose 5.5%.

Nearly 40% S&P 500 companied have reported earnings and more than 80% of them beat Wall Street expectations, according to CNBC calculations. S&P 500 companies are expected to grow profit by about 37.6% in the third quarter.

“Earnings have helped and a reminder that US reporting so far has been better than the long-term average in terms of beats,” Jim Reid, head of thematic research at Deutsche Bank, said in a note. The relief rally has been helped by the fact that it has been better than the September and October stagflationary stories.