Traders watched closely as stock futures climbed on Thursday night, following key earnings reports from major tech companies. Futures linked to the Dow Jones gained 17 points, a modest rise of 0.05%. The S&P 500 saw a bigger jump of 0.5%, while Nasdaq 100 futures surged by 1%.
Apple and Amazon, two giants in the tech world, shared their quarterly results after the markets closed. Amazon’s stock soared over 13% after reporting a 20% increase in revenue from its cloud unit, beating Wall Street predictions. Meanwhile, Apple’s strong financial results for its fourth quarter lifted its shares by about 3%.
Streaming service Netflix also made headlines, adding over 3% to its stock value after announcing a 10-for-1 stock split.
Courtney Garcia, a senior wealth advisor at Payne Capital Management, weighed in on the situation during a CNBC segment. She mentioned, “With the government shutdown, it’s important to see how companies are performing and how their consumers are doing. Positive earnings are a good sign for the economy.”
Despite some gains in futures, U.S. stocks had a rough day earlier. The Dow dropped nearly 110 points, about 0.2%, with both the S&P 500 and Nasdaq composite losing 0.99% and 1.58% respectively. Big tech names like Meta, Microsoft, and Nvidia were among the biggest losers, impacted by rising concerns over AI spending. Meta even hit its largest one-day loss in three years.
A recent trade agreement between U.S. President Donald Trump and China’s President Xi Jinping could ease some market worries. They agreed to a one-year pause on tariffs related to fentanyl and certain export controls, though other disputes remain unresolved.
As the week comes to a close, stock indexes are showing positive trends. The S&P 500 has risen 0.45% this week, while the Nasdaq and Dow are up approximately 1.6% and 0.7% respectively. October has been a robust month for stocks, with the S&P 500 gaining 2% and the Nasdaq jumping nearly 4.1%. The Dow is on track for its sixth consecutive positive month, a feat not seen since 2018.
This developing situation highlights the ever-changing landscape of the stock market, where earnings and geopolitical events deeply impact investor sentiment and stock prices. For a detailed look at the current market dynamics, you can refer to CNBC for further analysis.
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