From The NASDAQ Stock Market:

Nasdaq futures climbed 1% on Friday as investors cheered strong quarterly reports from Meta Platforms and Amazon.com and awaited a crucial jobs print at the end of a week marked by major tech earnings and U.S. policy decision. Meta surged 16.9% ahead of news of its dividend days from the 20th anniversary of Facebook. Amazon.com jumped 6.4% following a fourth-quarter revenue beat. Conversely, Apple lost 2.6%.

The much-anticipated non-farms payroll report for January, due at 8:30 a.m. ET, will shed further light on the strength of the U.S. labor market. Wall Street rebounded from a sell-off on Wednesday after the Federal Reserve quashed lingering bets that interest-rate cuts could begin as early as March. At 7:07 a.m. ET, Dow e-minis were up 0.06%, S&P 500 e-minis were up 0.57% and Nasdaq 100 e-minis were up 0.98%.

On the earnings front, oil giants Exxon Mobil and Chevron climbed after posting upbeat quarterly profits. Cigna rose 5.1% as the health insurer raised its annual profit forecast. Bristol Myers Squibb posted upbeat results sending shares up 2.8%. Microchip Technology dropped 3.3% after forecasting fourth-quarter net sales below estimates, while footwear maker Skechers U.S.A lost 10% after a downbeat 2024 forecast.

New York Community Bank gained 0.9% after sliding nearly 45% over the past two days jolting concerns about the state of U.S. regional banks after ruptures last year. Other social media firms Snap and Pinterest rose 6.2% and 4.8%, respectively. Nvidia experienced a record-breaking surge in market value in January, driven by heightened artificial intelligence optimism.

(updated at 7:07 a.m. ET)



Read more: Nasdaq futures advance on tech earnings cheer; jobs data on tap