US Stock Futures Rise, Investors Eye Apple Earnings

US stock futures gained ground on Thursday, supported by positive earnings reports from tech giants and anticipation for Apple's (AAPL) results.

Tech Stock Surge

Contracts on the Nasdaq 100 (NQ=F) gained 0.5%, while S&P 500 futures (ES=F) rose 0.3%. Dow Jones Industrial Average futures (YM=F) were steady after a decline on Wall Street the previous day.

Earnings Digests

Investors parsed earnings reports, focusing on the "Magnificent Seven" companies that have driven market gains. Microsoft (MSFT), Meta (META), and Tesla (TSLA) reported mixed results, boosting optimism for the broader tech sector. However, Microsoft's cloud revenue fell short, leading to a slide in its shares.

Apple in Focus

Attention now shifts to Apple (AAPL), whose stock has faced downgrades. Investors will scrutinize its quarterly report for signs of resilience in iPhone sales.

Other Companies Reporting

Other notable companies scheduled to report earnings include Intel (INTC), Comcast (CMCSA), Mastercard (MA), and Visa (V).

Economic Data

Economic data on tap includes preliminary estimates for fourth-quarter GDP, weekly jobless claims, and the PCE inflation report for the week.

American Airlines Incident

News dominated headlines following a fatal collision between an American Airlines (AAL) passenger jet and a US army helicopter near Reagan Washington National Airport.

Notable Analyst Insights

* RBC analyst Tom Narayan on Tesla: Highlights advancements in driverless technology and licensing potential.
* Macy's closures harming Levi's: Analyst suggests that department store closures impact sales channels for Levi's (LEVI).
* Goldman Sachs maintains rate cut forecast: Despite the Fed holding rates, Goldman Sachs anticipates two cuts in 2025.
* Vanda Research data: Reveals strong retail buying of Nvidia (NVDA) shares despite recent declines.
* Meta's AI focus: Analysts emphasize the importance of Meta's (META) AI investments in driving advertising revenue.
* Microsoft's Azure concerns: Analyst highlights challenges in Azure growth, potentially impacting the company's AI narrative.