US Futures Edge Higher After Hyperscaler Earnings

US equity futures rose on Thursday following hyperscaler earnings events, while markets assessed a batch of economic data and the impact of elevated energy prices. Contracts for the S&P 500, Dow, and Nasdaq 100 rose over 0.5%. Alphabet surged over 7% pre-market Amazon jumped over 3% pre-market after beating cloud computing revenues estimates and posting a surge in enterprise client wins for its AI technologies, while Amazon jumped over 3% after significantly beating its earnings expectations. In turn, Meta plunged nearly 10% after it published a surge in AI capital expenditure projections, triggering concerns that infrastructure development will not meet demand. Also, Microsoft dropped despite meeting its AI and cloud services consensus. Fresh data showed that AI spending supported the US GDP to a 2% annualized expansion in the first quarter, offsetting slower consumption as high gas prices dent spending. Also, Eli Lilly gained 5% after its earnings, but Mastercard fell after results.

US equity futures were higher on Thursday as markets assessed mixed signals from hyperscaler earnings and the impact of surging energy prices on the economic outlook. Contracts for the S&P 500, the Nasdaq 100, and the Dow rose between 0.3% and 0.8%. Alphabet shares surged over 7% pre-market Amazon jumped over 3% pre-market after beating cloud computing revenues estimates and posting a surge in enterprise client wins for its AI technologies, while Amazon jumped over 3% after significantly beating its earnings expectations. In turn, Meta plunged nearly 10% after it published a surge in AI capital expenditure projections, triggering concerns that infrastructure development will not meet demand. Also, Microsoft dropped despite meeting its AI and cloud services consensus. Energy prices held their surge on the continued impasse between Iran and the US, which is expected to limit the pickup in US GDP growth to be posted shortly. Meanwhile, Apple was slightly higher ahead of its earnings.

S&P 500 and Nasdaq 100 futures climbed on Thursday as investors assessed quarterly results from the Magnificent Seven technology firms. In extended trading, Alphabet jumped 7% after beating revenue expectations on strong Google Cloud performance, while Amazon rose nearly 3% on solid growth in its cloud computing segment. Microsoft also edged higher, supported by a 40% surge in revenue from its Azure and related cloud services, whereas Meta Platforms slid 7% after reporting weaker-than-expected first-quarter capital spending and disappointing user growth. In regular trading on Wednesday, the Dow and S&P 500 declined 0.57% and 0.04%, respectively, while the Nasdaq Composite ticked up 0.04%. These movements followed the Federal Reserve’s decision to leave policy unchanged as anticipated, though four officials dissented, signaling increasing divisions over the policy outlook amid heightened uncertainty tied to the Iran war.