Stock index futures rise on strong Big Tech earnings, while U.S. inflation data is awaited.

From Nasdaq: 2024-04-26 07:15:02

Stock futures are up this morning thanks to strong earnings from Alphabet and Microsoft. Q1 results surpassed expectations, leading to a surge in stock prices. Wall Street closed in the red yesterday, with Meta Platforms and Textron taking a hit. The U.S. economy grew at +1.6%, lower than expected, but core PCE rose +3.7%. Newmont soared over +12% on strong quarterly profits. The Fed is closely watching inflation data and the market is divided on rate cut expectations. Notable companies reporting today include Exxon Mobil and Chevron. French consumer confidence slipped slightly in April, while China’s Shanghai Composite Index closed higher today. Thyssenkrupp Ag and Amundi reported strong Q1 performance. Japan’s Nikkei 225 Index closed higher following the BOJ’s decision to maintain interest rates. Shin-Etsu Chemical plunged after announcing a takeover bid. Alphabet, Microsoft, Snap, and Dow are notable pre-market movers. Today’s earnings spotlight includes Exxon Mobil, AbbVie, Chevron, and Colgate-Palmolive.



Read more at Nasdaq: Stock Index Futures Climb on Upbeat Big Tech Earnings, U.S. Inflation Data Looms