US stock futures rise on Fed rate cut optimism, Microsoft disappoints

From Investing.com: 2024-07-31 06:36:54

U.S. stock futures rose on optimism of a September rate cut by the Federal Reserve, overshadowing Microsoft’s disappointing earnings. The Fed is expected to maintain rates but signal a cut in September, with markets fully pricing in easing by Christmas. Tech stocks were on a mixed streak, with the S&P 500 and Nasdaq lower, while the Dow gained. Microsoft missed cloud revenue estimates, but AMD surged on strong earnings. Meta Platforms and other tech giants are set to report earnings. Crude prices soared on Middle East tensions over the killing of Hamas leader Ismail Haniyeh, threatening supplies and escalating conflict fears.



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