U.S. Futures Rise on Strong Tech Earnings, Asian Markets Remain Higher
U.S. futures are on the rise this Friday morning, fueled by stellar earnings reports from tech giants Microsoft and Alphabet. The Nasdaq 100, S&P 500, and Dow Jones Industrial Average futures are all up by significant margins, indicating a positive start to the trading day.
In after-hours trading, Alphabet’s stock surged over 11.5% after the company reported better-than-expected Q1 financial results and announced its first-ever cash dividend. Similarly, Microsoft’s stock saw a 4% increase after surpassing analysts’ sales and EPS estimates, showcasing the strength of its Cloud business.
Looking ahead, energy giant Exxon is set to release its Q1 earnings, with expectations of a decline in sales and EPS. Pharmaceutical company AbbVie will also announce its first-quarter financials today, adding to the mix of earnings reports shaping the market sentiment.
On the economic front, investors are awaiting the release of March’s core personal consumption expenditures data, as well as the Michigan consumer sentiment index and the University of Michigan’s 5-year consumer inflation expectations report. These reports will provide valuable insights into the state of the U.S. economy.
Meanwhile, the U.S. 10-year treasury yield remains steady, while WTI crude oil futures are trending higher, indicating a positive outlook for the energy sector.
In Europe, markets are expected to open higher after a slight decline yesterday, with a focus on corporate earnings releases driving investor interest.
Across the Asia-Pacific region, markets remained higher, with the Bank of Japan keeping its benchmark interest rate unchanged. Japan’s Nikkei and Topix indices saw gains, while China’s Shanghai Composite and Shenzhen Component indices also rose. Hong Kong’s Hang Seng index was up significantly, reflecting positive sentiment in the region.
Overall, the global markets are showing signs of strength, with positive earnings reports and economic data driving investor confidence. Stay tuned for more updates as the trading day unfolds.
