Nasdaq Futures Rise on Strong Amazon Earnings and Chip Stock Gains
Nasdaq futures surged in pre-market trading, driven by strong earnings from Amazon and gains among chip stocks linked to AI infrastructure. Amazon's cloud division, AWS, reported a revenue growth of 37% for Q2—well above the expected 31%. This outperformance helped offset concerns over increased capital expenditure guidance. The rally was further supported by positive results from key tech firms like Microsoft and strong performances in chipmakers such as Sandisk and Micron Technology. However, Apple's stock fell due to weaker-than-expected revenue forecasts. Meanwhile, geopolitical tensions involving the Strait of Hormuz pushed up crude oil prices slightly.
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