US stock futures staged a comeback on Thursday morning after a Fed-fueled sell-off as Asian stocks rebounded and more earnings were on deck. But fresh US attacks on Iran, a bond rout, and worries about AI spending kept investors on guard. <\/p>\n
Futures on the Dow Jones Industrial Average (YM=F<\/a>) advanced 0.2%, while those on the S&P 500 (ES=F<\/a>) rose 0.4%. Contracts for the Nasdaq-100 (NQ=F<\/a>) jumped 0.7% after the index entered a correction on Wednesday<\/a>, led by heavy declines in chip stocks. <\/p>\n The fortunes of Meta (META<\/a>) and Microsoft (MSFT<\/a>) stocks diverged after the two “Magnificent Seven” stalwarts reported earnings on Wednesday afternoon. Meta shares fell over 9% in premarket trading, extending their historic losing streak, after the tech giant’s earnings miss<\/a> added to worries about its ability to recoup AI investments. Microsoft’s stock jumped nearly 9%, meanwhile, after its Azure cloud business topped $100 billion in revenue<\/a> for the first time. <\/p>\n Amazon (AMZN<\/a>) is the next hyperscaler to face Wall Street scrutiny on its capital expenditures and cloud business when it reports earnings after the bell<\/a>. Apple (AAPL<\/a>) will also release results<\/a>, where the focus will be on margins amid memory chip price hikes. <\/p>\n Traders continue to digest the Federal Reserve’s decision to hold rates steady<\/a> on Wednesday as the bond market revolts, sending the 30-year Treasury yield to a multidecade high<\/a> near 5.24% on Thursday. Although oil prices were flat Thursday morning, US strikes on a dozen Iranian targets<\/a> overnight threatened to spiral into another escalation in the war, which could rekindle inflation. <\/p>\n