US pre-open: Futures higher as investors cheer tech earnings
By Iain Gilbert
Date: Thursday 01 May 2025
(Sharecast News) - Wall Street futures were in the green ahead of the bell on Thursday as investors cheered quarterly earnings beats from tech giants Meta Platforms and Microsoft.
As of 1235 BST, Dow Jones futures were up 0.69%, while S&P 500 and Nasdaq-100 futures had the indices opening 1.09% and 1.69% firmer, respectively.
The Dow closed 141.74 points higher on Wednesday, clawing back earlier losses that came in the wake of news that gross domestic product had fallen at an annualised pace of 0.3% in Q1 to mark the first quarter of negative growth since Q122.
Trade Nation's David Morrison said: "Overall, it looks as if Trump's tariffs are starting to affect economic data, and this should be far more apparent going forward. For now, investors are taking this in their stride. The feeling is that President Trump will reach some sort of accommodation over tariffs, while the Fed stands ready to cut rates at the first signs of economic pain. What they seem to be ignoring is the deep damage that the tariffs have already inflicted on global trade."
Meta Platforms traded almost 7% higher before the open on the back of stronger-than-expected Q1 revenues, while Microsoft shares were up more than 8% thanks to top and bottom-line beats in its fiscal Q3, as well as strong results from its Azure cloud business and some upbeat guidance.
Also in focus, Tesla shares traded 0.6% higher after the electric carmaker denied reports that it had opened a search for a new chief executive to replace Elon Musk.
In terms of earnings, CVS Health, Eli Lilly and McDonald's will all report this morning, while Apple and Amazon will release their latest quarterly numbers after the close of trading.
On the macro front, weekly jobless claims numbers from the Labour Department will be out at 1330 BST, while S&P Global's April manufacturing PMI will be published at 1445 BST, and the Institute for Supply Management's April manufacturing PMI and March construction spending figures will follow at 1500 BST.
Reporting by Iain Gilbert at Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN