U.S. stock futures climbed early Thursday, buoyed by strong earnings reports from two of the “Magnificent 7” companies after Wednesday’s market close.
While markets were rattled by the Commerce Department’s report of a 0.3% GDP contraction, major indexes rebounded and ended the previous session in positive territory.
Meta Platforms Inc. (NASDAQ:META) and Microsoft Corp. (NASDAQ:MSFT) both topped earnings and revenue expectations, rising 6.63% and 7.40% in pre-market trading, respectively.
Meanwhile, Tesla Inc. (NASDAQ:TSLA) slipped 0.54% in pre-market trading amid unverified rumors that the board was searching for a replacement for CEO Elon Musk — claims the company has since dismissed as false.
On Thursday, investors will be closely watching the earnings of Apple Inc. (NASDAQ:AAPL), Amazon.com Inc. (NASDAQ:AMZN), Mastercard Inc. (NYSE:MA), and Airbnb Inc. (NASDAQ:ABNB), with high expectations following a series of strong performances over the past couple of days.
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U.S. 10-Year Treasuries are at 4.15%, while the 2-Year Treasuries are at 3.60%. The CME Group’s FedWatch tool shows the markets pricing a 95% likelihood of interest rates remaining unchanged during the FOMC meeting that is scheduled to take place the first week of May, which marks an increase from 92.4% on Wednesday.
| Futures | Change (+/-) |
| Dow Jones | 0.83% |
| S&P 500 | 1.30% |
| Nasdaq 100 | 1.78% |
| Russell 2000 | 0.46% |
The SPDR S&P 500 Trust ETF (NYSE:SPY) was up 0.04% on Monday, while the Invesco QQQ Trust (NASDAQ:QQQ), which tracks the Nasdaq-100 Index, was down 0.013%, according to Benzinga Pro data.
Cues From Last Session:
Wednesday was a mixed bag for S&P 500 sectors, with healthcare, industrials, and consumer staples posting good gains, while the energy segment dropped 2.70% on …