U.S. stock futures pointed to further gains early Friday, buoyed by Alphabet’s (GOOGL) better-than-expected first-quarter results that sparked a rally in tech stocks yesterday. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were up 0.5%, 0.01%, and 0.41%, respectively, at 2:30 a.m. EST, April 25.
Alphabet stock jumped about 5% in after-hours trading after beating both Q1 revenue and earnings estimates. Importantly, GOOGL’s positive results had a ripple effect across other major technology companies. Nvidia (NVDA), Tesla (TSLA), Meta (META), and Amazon (AMZN) all saw their stock prices rise in extended trading.
In contrast, Intel’s (INTC) stock was down over 5% due to disappointing guidance and plans to reduce operational and capital expenditures.
These movements followed a strong Thursday session where all three major averages closed higher, marking the third consecutive day of gains. The Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) gained 1.2%, 2%, and 2.7%, respectively.
This upside was supported by rising hopes of a potential interest rate cut by the Federal Reserve. Cleveland Fed President Beth Hammack hinted that such a move could occur as early as June, subject to favorable economic data.
On the trade war front, investors await clarity on trade negotiations, particularly with China. This is because China indicated on Thursday that no tariff discussions were currently underway and called for the removal of “unilateral measures.”
This statement came after signals from the White House earlier in the week suggesting a potential easing of tariffs on Chinese imports, which currently stand at a total of 145%.
Looking ahead to Friday’s trading, quarterly earnings reports from companies like AutoNation (AN), SLB (SLB), Colgate-Palmolive (CL), Phillips 66 (PSX), and AbbVie (ABBV) are due after the closing bell.
Also, investors will be monitoring the University of Michigan’s consumer sentiment data for April, with economists projecting no change from the previous month’s reading.
Meanwhile, the U.S. 10-year treasury yield was down, floating near 4.293%. Simultaneously, WTI crude oil futures are trending higher, hovering near $62.91 per barrel as of the last check.
Elsewhere, European indices are expected to open higher on Friday, driven by optimism about easing global trade tensions. U.S. President Donald Trump mentioned ongoing talks with China and progress in discussions with Japan and South Korea, which has boosted investor sentiment.
Asia-Pacific Markets Ended Higher on Friday
Most of the Asia-Pacific indices were in the green today. Investor sentiment improved as the U.S. softened its stance on tariffs, and reports suggested China might suspend its 125% tariff on some U.S. goods.
At the same time, the Hong Kong index was up 0.63%. Also, Japan’s Topix and Nikkei indices closed higher by 1.37% and 1.86%, respectively. Further, China’s Shenzhen Component index gained 0.45% while the Shanghai Composite index was down 0.09%.
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