Nasdaq Futures Rise After Wall Street Rebound, Amazon Surges Post-Earnings
Wall Street experienced a strong rebound following mixed economic signals and positive earnings reports. Nasdaq futures rose by 0.4% in overnight trading as optimism grew around corporate performance, particularly from tech firms like Amazon and Apple. In extended trading, Amazon shares surged over 9%, driven by better-than-expected revenue fueled by its cloud-computing business. Apple also reported strong results with a significant increase in iPhone sales but saw its stock fall due to weaker service revenue. Microsoft's impressive Azure growth led the broader market rally and boosted AI-linked chipmakers, including the iShares Semiconductor ETF (SOXX), which climbed over 8%. The recovery followed sharp declines earlier in the week after the Federal Reserve held interest rates steady. Despite recent volatility, major indices were on track for weekly gains. Meanwhile, individual investors remained bearish for a record 25th consecutive week according to AAII data.
Tickers: $AAPL $AMZN $MSFT $SOXX
Topics: AI spending earnings reports Fed policy stock market