Dow Jones Today: Stock Futures Jump After Strong Earnings From Microsoft, Meta as Apple, Amazon on Deck; S&P, Dow Riding 7-Day Win Streaks

Stock futures moved sharply higher Thursday morning as investors reacted to strong results and big AI spending plans from major technology companies.

Futures tied to the S&P 500 and tech-heavy Nasdaq were up 1.1% and 1.6%, respectively, about half an hour before the opening bell, while those linked to the Dow Jones Industrial Average added 0.6%. Stocks closed slightly higher on Wednesday after spending much of the day in negative territory following a government report that showed the U.S. economy contracted in the first quarter for the first time in three years.

The S&P 500 and Dow closed out April on seven-session winning streaks as earnings reports have been generally strong and the Trump administration has appeared to soften its stance on tariffs. The major indexes still posted losses in April, their third consecutive monthly decline, amid ongoing uncertainty about where tariff policy will land and how it will affect the economy and companies that do business around the world.

Shares of the world’s largest technology companies were leading the move higher this morning after Microsoft (MSFT) and Meta Platforms (META) late yesterday reported quarterly results that topped Wall Street’s expectations. Microsoft shares soared more than 9%, while Meta gained nearly 7% ahead of the opening bell.

Nvidia (NVDA), which has been a prime beneficiary of the AI boom, was up more than 4% as investors welcomed the news that Microsoft and Meta expect to continue investing heavily in AI infrastructure. Fellow chipmaker Broadcom (AVGO) advanced 2.5%, while Alphabet (GOOG) and Tesla (TSLA) were little changed.

Amazon (AMZN) and Apple (AAPL), which are due to release their results after the closing bell today, were up 3% and down 1.5%, respectively, this morning.

Among other noteworthy post-earnings movers, CVS Health (CVS) shares jumped 9% and trading platform Robinhood Markets (HOOD) gained 5%. McDonald’s (MCD) was down nearly 2%, while Eli Lilly (LLY) and Qualcomm (QCOM) dropped 5% and 6%, respectively.

The economic data calendar is relatively light today. Weekly jobless claims numbers released this morning were higher than expected, adding to concerns about economic weakness, while investors will keep a close eye on manufacturing indicators. The big economic event of the week comes Friday morning, when the April jobs report is scheduled to be released.

The yield on the 10-year Treasury note, which affects borrowing costs on all sorts of consumer and business loans, was at 4.15%, down from yesterday’s close at 4.18%, trading near its lowest levels since early April. The U.S. dollar index, which measures the performance of the dollar against a basket of foreign currencies, was up 0.5% at 99.92, after hitting a three-year low below 98 early last week.

Gold futures—which hit a record high early last week of around $3,500 an ounce as investors turned to the traditional safe haven amid concerns about tariffs and the economic outlook—were down 2.5% at $3,235. West Texas Intermediate futures, the U.S. crude oil benchmark, slipped 2.1% to around $57 per barrel, their lowest level in four years.

Bitcoin was at $96,400, up from an overnight low of $94,000 and at its highest level in more than two months, as investors reassessed their risk appetite.