Tech Titans Propel Market With Robust Earnings

U.S. stock index futures pointed to a higher open Thursday, driven by strong results from tech giants Microsoft and Meta, indicating a positive outlook for the technology sector. Despite economic jitters, the robust performance of these companies boosted market sentiment, highlighting resilience amid U.S.-China trade tensions.

U.S. stock index futures were on track for a higher open Thursday, fueled by impressive earnings from tech giants Microsoft and Meta. These robust results indicate a positive outlook for the technology sector, despite ongoing economic uncertainties.

Microsoft shares surged 8.5% in premarket trading following a strong forecast for its Azure cloud-computing business, while Meta saw a 6.5% gain after delivering higher-than-expected advertising revenue. Experts believe the momentum from these results could signal a strong start to the new month.

The latest figures assuage concerns about the economy, which has faced unpredictability due to U.S. tariff policies and trade tensions with China. However, the Federal Reserve has indicated that interest rates will remain unchanged unless inflation rises significantly or the labor market worsens.

(With inputs from agencies.)