US Futures Hold Rally

US equities were higher as markets looked past the prolonged disruption of oil exports from the Middle East and focused on corporate earnings. The S&P 500 and the Nasdaq 100 rose 0.5% to new records, and the Dow was firmly in the green. Apple gained 3% after reporting strong earnings and outlook, supported by sales of its newest iPhone and a robust performance in China. Energy majors were also in the spotlight with both ExxonMobil and Chevron edging higher after reporting their first-quarter numbers, exceeding profit expectations. Meanwhile, Meta halted its selloff and Nvidia gained over 1% as markets continued to gauge whether signals of higher AI spending are grounded on demand growth, evidenced my a mixed earnings momentum for hyperscalers. AI investment had carried the US GDP in the first quarter, per the latest data, offsetting signs of slowing private consumption.

Futures tracking US equities held their recent rally as investors looked past the Iran war and focused on corporate earnings. Contracts for the S&P 500 and Nasdaq were mostly flat near their records, while those for the Dow inched higher. Apple was over 3% higher premarket after reporting strong earnings and outlook, supported by sales of its newest iPhone and a robust performance in China. Energy majors were also in the spotlight with both ExxonMobil and Chevron edging higher after reporting their first-quarter numbers, exceeding profit expectations. Meanwhile, hyperscalers were mostly higher following Wendesday earnings as markets continued to gauge whether signals of higher AI spending are grounded on demand growth. AI investment had carried the US GDP in the first quarter, per the latest data, offsetting signs of slowing private consumption.

US stock futures edged higher on Friday following a robust rally in the previous session, with the S&P 500 and Nasdaq Composite reaching fresh record highs and posting their strongest monthly gains since 2020. In Thursday’s regular trading, the S&P 500 and Nasdaq rose 1.02% and 0.89%, respectively, while the Dow climbed 1.62%. The advance was fueled by a solid first-quarter earnings season, which helped offset persistent concerns over the prolonged US–Iran conflict and the continued closure of the Strait of Hormuz, a disruption that has triggered a historic shock to global energy supply. On the corporate side, shares of Apple rose nearly 2% in after-hours trading after the company exceeded earnings and revenue forecasts, although iPhone sales fell short of expectations. Investors are now turning their attention to additional earnings releases due Friday, including results from Chevron, Exxon Mobil, Colgate-Palmolive Company, Estée Lauder, and CBOE, among others.