U.S. stock futures edged higher early Thursday as traders reacted to Big Tech earnings and the Federal Reserve’s decision to keep interest rates unchanged. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.36%, 0.25%, and 0.09%, respectively, at 3:47 a.m. EST on January 29.
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During Wednesday’s regular trading, the three major averages closed mixed, with the S&P 500 briefly crossing the 7,000 mark before ending the day down 0.01%, following the Fed’s interest rate decision. Meanwhile, the DJIA rose 0.02%, and the Nasdaq Composite edged up 0.17%, boosted by strong performances from Nvidia (NVDA) and Micron Technology (MU).
After the market closed, tech giant Microsoft (MSFT) stock dropped 6.1% due to slower cloud growth in the fiscal second quarter and softer margin guidance for the current quarter. In contrast, Meta Platforms (META) shares popped 7% on issuing a stronger-than-expected sales outlook for the first quarter and increased capex. Tesla (TSLA) stock rose 2.2% after beating Q4FY25 sales and earnings expectations despite reporting its first annual sales decline.
On the economic front, traders will watch data on weekly jobless claims, GDP growth, factory orders, and balance of trade.
Turning to earnings season, major companies reporting today include Apple (AAPL), Lockheed Martin (LMT), Mastercard (MA), Caterpillar (CAT), and Comcast (CMCSA).
Notably, the U.S. 10-year Treasury yield was up, floating near 4.26%. WTI crude oil futures were trending higher, hovering near $64.17 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $5,532 per ounce on Thursday, surpassing the $5,500 mark for the first time amid a flight to safety as the U.S. dollar weakened.
Elsewhere, European indexes opened mixed today as traders digested corporate earnings reports.
Asia-Pacific Markets Trade Higher
Asia-Pacific markets traded mostly higher on January 29, after the U.S. Fed’s decision to hold rates steady and gold’s continued rally.
Hong Kong’s Hang Seng Index gained 0.51%. In China, the Shanghai Composite rose 0.16%, while the Shenzhen Component lost 0.37%. Meanwhile, Japan’s Nikkei added 0.03%, and the Topix rose 0.28%.