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Stock futures rose Thursday morning as investors digested last night’s slate of Big Tech earnings and results from other major companies. Futures tied to the Dow Jones Industrial Average were up 0.6% recently, while those linked to the S&P 500 and the tech-heavy Nasdaq added 0.4% and 0.5%, respectively. After a mixed session Wednesday, the major indexes remain on track for large monthly gains: the Nasdaq Composite and the S&P 500 are up 14% and 9%, respectively, in April, their biggest one-month performances since 2020.
In commodities and rates, West Texas Intermediate crude oil futures fell about 2% to around $105 per barrel after rising for most of the prior two weeks amid uncertainty about the Iran war. Gold futures were up nearly 2% to $4,645 an ounce. Bitcoin was trading around $76,000, down from its prior highs near $78,000. The yield on the 10-year Treasury slipped to 4.39% from 4.42% at the close of the prior session, a level that influences interest rates on consumer loans.
Wednesday marked one of the busiest earnings days in recent memory, with Amazon, Microsoft, Meta Platforms and Alphabet all reporting after the closing bell. While each company beat Wall Street estimates for revenue and profit, their shares moved in different directions as investors focused on details in the reports and remarks from executives, including plans for AI-related spending.
Apple is set to report after the closing bell today. The iPhone maker is expected to post revenue of $109.34 billion and earnings of $1.94 per share, both rising year over year. Beyond the numbers, investors are expected to focus on the company’s CEO succession plan: Apple said last week that John Ternus, a longtime hardware executive, will take over from Tim Cook at the start of September. Markets will likely look for details on the transition process and Ternus’ priorities as CEO.
Investors are also watching results from companies outside the largest tech names. Caterpillar and Eli Lilly each rose about 6% in premarket trading following strong results. Merck & Co. and Cigna were also gaining after their reports, while Mastercard and ConocoPhillips fell.
Other companies scheduled to report after the closing bell today include Sandisk and Western Digital, as data storage and memory stocks have been on a strong run. Reddit, Roblox and EV maker Rivian are also set to report after markets close.
Investors will also turn to major U.S. economic releases that may shed light on how the Iran war has affected the economy. The Personal Consumption Expenditures (PCE) index for March and first-quarter gross domestic product data are scheduled for release at 8:30 a.m. ET.
Economists surveyed by The Wall Street Journal and Dow Jones Newswires expect PCE prices to rise 0.7% in March, up from 0.4% in February, and to increase 3.5% over 12 months. First-quarter GDP is estimated at 2.2%, compared with 0.5% in the fourth quarter.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
