Nasdaq 100 futures rise as investors parse latest tech earnings, await jobs data: Live updates
Published On Oct 31, 2024, 6:02 PM
Futures for the Nasdaq 100 have risen 0.3% as tech earnings are evaluated ahead of key employment data. Amazon's stock surged over 5% following strong quarterly performance, notably in its cloud and advertising sectors, while Intel’s shares rose more than 7% after surpassing revenue expectations. However, both the S&P 500 and Nasdaq experienced their worst trading sessions since early September, primarily due to disappointing earnings from Microsoft and Meta. Market performance in October is notable with all major indexes showing declines, influenced by a cautious trading approach among investors amidst upcoming critical economic reports, including October's job figures.
Stock Forecasts
AMZN
Positive
Investors may find potential opportunities in Amazon and Intel due to their recent strong earnings reports, which exceeded expectations. Amazon's continued strength in both cloud services and advertising suggests growth potential, while Intel's good guidance position it favorably in a recovering tech landscape.
MSFT
Negative
Despite the upswing in tech futures attributed to strong earnings from key players, the overall market sentiment has been cautious. This could lead to downward pressure on stocks connected to Microsoft and Meta, especially if forthcoming economic data continues to show signs of a slowing labor market, contributing to further risk-averse behavior among investors.
CVX
Neutral
Chevron and Exxon Mobil are set to report earnings, and their performance might influence energy sector stocks positively if they reflect robust earnings akin to Amazon and Intel. However, current market jitters might temper any significant boosts unless earnings drastically surpass expectations.
Related News
Amazon Reports Record $15.3 Billion Profit
Oct 31, 2024, 4:51 PM
The tech giant’s cloud computing business picked up steam and its retail business showed resiliency.
Amazon stock pops after Q3 earnings beat
Oct 31, 2024, 4:14 PM
Amazon reported third quarter earnings on Thursday amid a volatile week for big tech stocks.
Stock market today: Nasdaq leads sell-off after Microsoft, Meta earnings prompt Big Tech slide
Oct 31, 2024, 4:01 PM
Meta and Microsoft earnings have stirred up worries about AI and Big Tech as investors digest a Fed-favored reading on inflation.