Wall Street Today | Tesla posts record revenue and profits in Q3

Futures were little changed in Japan and Hong Kong while edging slightly higher in Australia. U.S. contracts wavered as they started trading. The $S&P 500 Index(.SPX.US)$ rose for a sixth day to the cusp of a record but the tech-heavy $NASDAQ 100 Index(.NDX.US)$ dipped.

Since slumping to a low in mid-August, $KraneShares CSI China Internet ETF(KWEB.US)$ -- which holds shares of 53 U.S.-listed Chinese tech companies -- has jumped 21%. Cash flooding into the exchange-traded fund has helped buoy total assets to a record $8.1 billion on Tuesday.

$Tesla(TSLA.US)$ reported third-quarter earnings after the bell Wednesday, and it's a beat on both the top and bottom lines. The record results were driven by improved gross margins of 30.5% on its automotive business and 26.6% overall, both of which are records for at least the last five quarters. The company's stock dropped less than a point after hours on the results.

$PayPal(PYPL.US)$ is in talks to buy social-media platform $Pinterest(PINS.US)$ according to people familiar with the matter, a move that could enable the payments giant to play a bigger role in a customer's shopping experience.

$IBM Corp(IBM.US)$ reported weaker-than-expected revenue in the latest quarter, weighed down by its cloud business and some clients' pause in spending.

$Micron Technology(MU.US)$ Chief Executive Officer Sanjay Mehrotra said some of the planned spending would go toward expansion of existing chip-production facilities and potential construction of new ones.

$Blackstone(BX.US)$ is preparing to raise what could be the industry's largest buyout fund on record. The firm may seek as much as $30 billion for its next flagship private equity fund, according to people familiar with the matter.