Wall Street futures jumped sharply on Thursday evening after the main indexes had closed lower earlier in the session, as stronger-than-expected earnings from Apple Inc. and Amazon.com, Inc. helped ease concerns over rising spending in the tech sector.
Specifically, S&P 500 futures climbed about 0.7% to 6,902.0 points, while Nasdaq 100 futures soared 1.3% to 26,207.5 points as of 10:04 p.m. ET. Meanwhile, Dow Jones Industrial Average futures edged up 0.1% to 47,746.0 points.
During regular trading hours, both the S&P 500 and Nasdaq Composite declined — by roughly 1% and 1.6%, respectively — mainly dragged down by losses in large-cap tech stocks. However, after-hours trading saw a strong rebound as Apple and Amazon released upbeat earnings results that lifted market sentiment.
Apple reported stronger-than-expected revenue from both iPhone sales and its services segment, sending its shares up more than 3% in after-hours trading. Amazon surged nearly 13% following quarterly earnings that beat analysts’ estimates, driven by solid growth in its AWS cloud division and improved retail performance.
Still, the rally came amid a cautious backdrop. The Federal Reserve’s recent signals dampened expectations for an imminent rate cut, and investors are closely watching other upcoming earnings reports and AI-related spending trends among major tech firms.
In summary, positive earnings from Apple and Amazon provided a much-needed boost to U.S. stock futures, but the overall market remains cautious as investors await further policy guidance and corporate results.
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