US Stock Futures Rise as Investors Eye Comeback Amid Earnings Season and Economic Data
Market Overview
US stock futures gained ground on Thursday morning, suggesting a potential rebound after a day of declines on Wall Street.
Tech Sector
Contracts on the tech-heavy Nasdaq 100 (NQ=F) rose 0.5%, while S&P 500 futures (ES=F) moved up 0.3%. Dow Jones Industrial Average futures (YM=F) remained relatively unchanged.
Earnings Reports
Investors are closely watching earnings reports from major tech companies, including Microsoft (MSFT), Meta (META), and Tesla (TSLA). Tesla shares rose despite missing earnings estimates, while Meta beat quarterly expectations. Microsoft stock, however, fell after cloud revenue came in below forecasts. Apple (AAPL) is expected to report results after the closing bell.
Economic Data and Events
Later today, the first estimate of fourth-quarter GDP will be released, with expectations of a slowdown to 2.6%. Weekly jobless claims and the PCE inflation report are also scheduled for release this week.
Other News
* A fatal collision between an American Airlines passenger jet and a US army helicopter made headlines, dominating news coverage on Wednesday night.
* Goldman Sachs maintains its forecast of two more rate cuts in 2023 and one in 2026, despite the Federal Reserve's decision to keep interest rates unchanged.
* Nvidia (NVDA) shares continue to face pressure due to concerns over DeepSeek's cheaper AI model and potential government restrictions on chip flow. However, individual investors have been buying the dip, according to data from Vanda Research.