US stock futures ticked higher Friday morning, lifted by upbeat quarterly results from Apple and Amazon that capped a pivotal week for Big Tech.
S&P 500 futures (ES=F) advanced 0.6%, while those on the tech-heavy Nasdaq 100 (NQ=F) jumped 1.1%. Futures linked to the Dow Jones Industrial Average (YM=F), which includes fewer tech stocks, hovered around the flatline.
47,720.00
+43.00
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As of 3:47:44 GMT-4. Market open.
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Amazon (AMZN) surged more than 13% in extended trading after the company reported third-quarter results that easily topped Wall Street forecasts. Gains were led by Amazon Web Services, the company’s cloud division, as it posted a 20% revenue jump, signaling renewed strength in enterprise demand despite failing on an international scale in recent weeks.
Apple (AAPL) also impressed investors, rising as much as 3% following stronger-than-expected fiscal fourth-quarter earnings and upbeat guidance for the all-important December quarter.
Netflix (NFLX) was also in focus in after-hours trading, as the stock rose over 3% after unveiling plans for a 10-for-1 stock split, adding to the wave of positive sentiment across the sector.
222.86
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At close: 30 October at 16:00:01 GMT-4
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The gains followed a rough regular session on Wall Street. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) lost 1% and 1.6%, respectively, with the indices dragged by declines in Meta (META), Microsoft (MSFT), and Nvidia (NVDA) as investors began to push back on the ballooning AI infrastructure spending. Meta, in particular, suffered its steepest one-day drop in three years.
In an easing of international trade tensions, President Trump and Chinese President Xi Jinping agreed to a one-year trade truce following talks in South Korea. The deal includes a 10% tariff reduction on Chinese goods tied to fentanyl and a pause on China’s rare-earth export restrictions.
Meanwhile, investors are still assessing the fallout from the Federal Reserve’s rate cut and its deepening divisions on the path forward. Investors will begin to hear from Fed officials on Friday.
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