Stock futures are trending higher, buoyed by strong earnings reports from major tech companies and easing trade tensions. Microsoft and Meta Platforms have reported robust quarterly results. These positive earnings have contributed to a rally in tech stocks.
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Investors are also anticipating earnings reports from Apple and Amazon later today. Apple shares are slightly down ahead of the report, while Amazon shares have risen by 3%.
On the economic front, investors are closely watching for updates from the Federal Reserve’s May meeting, with expectations that the Fed will maintain current interest rates amid ongoing inflation concerns. In commodities, Bitcoin has surpassed $96,000, while oil and gold futures have declined.
In pre-market trading, S&P 500 futures rose 1.06%, Nasdaq futures gained 1.62% and Dow futures rose 0.6%.
Check out this morning’s top movers from around Wall Street, compiled by The Fly.
UP AFTER EARNINGS –
- CVS Health (CVS) up 9%
- Microsoft (MSFT) up 8%
- Meta Platforms (META) up 7%
- Roblox (RBLX) up 7%
- Wayfair (W) up 7%
- Cardinal Health (CAH) up 1%
- MasterCard (MA) up 1%
- KKR (KKR) up 1%
- Harley-Davidson (HOG) up 1%
DOWN AFTER EARNINGS –
- Fortive (FTV) down 5%
- Eli Lilly (LLY) down 4%
- McDonald’s (MCD) down 1%
- Kellanova (K) down 1%
- Qualcomm (QCOM) down 6%
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
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