A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 30, 2025. <\/p>\n
Jeenah Moon | Reuters<\/p>\n
S&P 500 futures and Nasdaq 100 futures rose on Thursday morning following solid earnings reports from tech giants Microsoft and Meta Platforms.<\/p>\n
S&P 500 futures<\/a> jumped 0.94%, and Nasdaq 100 futures<\/a> climbed 1.34%. Futures tied to the Dow Jones Industrial Average<\/a> advanced 132 points, or 0.3%.<\/p>\n “Magnificent Seven” titans Microsoft<\/a> and Meta<\/a> respectively rose about 8% and 11% in extended trading on the back of better-than-expected quarterly<\/a> earnings<\/a>. Software giant Microsoft said that annual revenue from its cloud computing service Azure exceeded $75 billion. Meta issued an upbeat third-quarter sales outlook, surpassing the Street’s estimates.<\/p>\n On Wednesday evening, President Donald Trump also announced that the U.S. had reached a trade deal<\/a> with South Korea, setting tariffs at 15%. That’s lower than the 25% rate Trump had threatened in a letter<\/a> to Seoul earlier this month. The announcement arrives just ahead of Friday’s big tariff deadline<\/a>.<\/p>\n In regular trading Wednesday, the S&P 500<\/a> closed lower after Federal Reserve Chair Jerome Powell signaled that the U.S. central bank is still not ready to cut interest rates. The broad market index shed 0.12%, while the Dow Jones Industrial Average<\/a> lost 171.71 points, or 0.38%. The Nasdaq Composite<\/a>, on the other hand, notched a 0.15% gain.<\/p>\n While the Federal Reserve left its benchmark overnight policy rate steady<\/a> at its July meeting, not all members agreed with the decision. Fed governors Michelle Bowman and Christopher Waller dissented<\/a> with the call to keep the key interest rate at a range of 4.25% to 4.50%. When asked about a potential policy change in September, Powell said that the Fed has “made no decisions.”<\/p>\n Ross Mayfield, investment analyst at Baird, said that Wednesday’s losses made sense given the market’s currently “stretched” valuations. The S&P 500’s decline marked its second day of losses following a streak of six record closes in a row.<\/p>\n “There’s a lot of good news priced in, so I think little things on the margin can have a bigger impact when you’ve had such a run, like slightly hawkish comments in the FOMC presser,” Mayfield said to CNBC. “Sentiment has shifted back to a pretty bullish tenor, and I think the market needs to consolidate and take a breather, and it’ll grab on to whatever it needs to as an excuse.”<\/p>\n On Thursday, traders will watch out for June’s personal consumption expenditures price index reading, the Fed’s preferred inflation gauge. Economists polled by Dow Jones see headline PCE rising 2.5% on a 12-month basis and 0.3% from the prior month. Weekly jobless claims are also due.<\/p>\n Comcast<\/a>, Bristol-Myers Squibb<\/a>, Cigna<\/a>, CVS Health<\/a>, Shake Shack<\/a>, AbbVie<\/a> and Mastercard<\/a> are among the companies set to report earnings before Thursday’s opening bell. Results from Apple<\/a> and Amazon<\/a> are on deck for the afternoon.<\/p>\n Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC.<\/p>\n","protected":false},"excerpt":{"rendered":"A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S.,…\n","protected":false},"author":2,"featured_media":305764,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[25897,112375,20955,112372,3084,14692,4959,20951,51,3085,112371,112370,33538,7996,7989,2441,112374,15251,15253,7995,3742,7994,3741,112373,1831,16,15,49],"class_list":{"0":"post-305763","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-abbvie-inc","9":"tag-alignment-healthcare-inc","10":"tag-amazon-com-inc","11":"tag-anheuser-busch-inbev-sa","12":"tag-apple-inc","13":"tag-biogen-inc","14":"tag-breaking-news-markets","15":"tag-bristol-myers-squibb-co","16":"tag-business","17":"tag-business-news","18":"tag-cigna-group","19":"tag-comcast-corp","20":"tag-cvs-health-corp","21":"tag-dow-jones-fut-mar23","22":"tag-dow-jones-industrial-average","23":"tag-markets","24":"tag-mastercard-inc","25":"tag-meta-platforms-inc","26":"tag-microsoft-corp","27":"tag-nasdaq-100-fut-mar23","28":"tag-nasdaq-composite","29":"tag-sp-500-fut-mar23","30":"tag-sp-500-index","31":"tag-shake-shack-inc","32":"tag-stock-markets","33":"tag-uk","34":"tag-united-kingdom","35":"tag-united-states"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114946120284043022","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/305763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=305763"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/305763\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/305764"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=305763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=305763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=305763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}