U.S. Stock Futures Surge as Earnings Season Continues
U.S. stock futures are trending higher as investors digest corporate earnings and anticipate economic data.
* Apple (AAPL): Expected to report increased revenue and profit after market close.
* Tesla (TSLA): Shares surge on optimistic FSD technology forecast.
* Meta Platforms (META): Gains after strong revenue growth report.
* Microsoft (MSFT): Declines on disappointing cloud sales.
* IBM (IBM): Soars on better-than-expected earnings driven by AI business.
GDP Data Awaits
Investors are eagerly awaiting the release of U.S. gross domestic product (GDP) data, which is projected to show a slowdown in economic growth.
Technology Sector in Focus
"Magnificent Seven" tech companies recently reported earnings, with mixed reactions:
* Meta: Revenue up 20%, driven by advertising.
* Microsoft: Revenue up 12%, but Intelligent Cloud segment below expectations.
AI Drives IBM Growth
IBM's strong earnings are attributed to growth in its AI-enabled business, with generative AI revenue increasing by $2 billion.