US stock futures rise on tech earnings, inflation fears

From Investing.com: 2024-04-28 19:55:52

U.S. stock index futures rose on Sunday, fueled by strong earnings from Alphabet and Microsoft. However, concerns about inflation persist, possibly leading the Federal Reserve to maintain higher interest rates longer. Major indices saw slight gains, with the S&P 500 up 0.1%, the Dow Jones up 0.1%, and the Nasdaq up 0.1%.

Alphabet and Microsoft reported stellar first-quarter earnings, boosting the tech sector. Alphabet’s shares surged over 10% after announcing its first dividend. Analysts believe the companies are well-positioned to benefit from the AI boom. The Nasdaq led gains, closing up 2%, while the S&P 500 rose 1%.

As inflation data came in hotter than expected, fears of a delayed interest rate cut by the Fed grew. The upcoming Fed meeting is closely watched for further guidance on rate hikes. Expectations are for rates to remain unchanged, with potential rate cuts postponed to later in the year due to strong consumer spending and inflation concerns.



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