S&P 500 futures rise after three-day winning streak, Alphabet beat: Live updates

S&P 500 futures rose on Thursday evening on the heels of Wall Street seeing its third straight day of gains and Alphabet’s latest quarterly results.

Futures linked to the S&P 500 were 0.2% higher, while Nasdaq-100 futures gained 0.3%. Futures tied to the Dow Jones Industrial Average hovered around the flatline.

In extended trading, shares of Alphabet jumped more than 5% after the Google-parent and “Magnificent Seven” name beat on the top and bottom lines for the first quarter. By contrast, Intel shares fell more than 5% after offering disappointing guidance and revealing that it plans to slash operational and capital expenses.

The moves follow the three major averages closing solidly in the green during Thursday’s session, putting them on a three-day winning streak. That was bolstered by advances in megacap technology names, which have taken a beating over the past month amid investor fears of rising global trade tensions.

Stocks have been in a trading range following the initial shock of President Donald Trump’s “reciprocal” tariffs announcement on April 2 as investors await clarity on negotiations with key trading partners such as China. That country revealed Thursday that there were no ongoing discussions on tariffs, and Ministry of Commerce spokesperson He Yadong also called for the cancellation of “unilateral measures on China.”

That comes in response to the White House signaling earlier this week that it may ease its stance on China tariffs, which sit at a total of 145% on imports from the country. On Tuesday, Trump said that the tariff rate will “come down substantially. But it won’t be zero.“

“I think that really all the market needed was just a little spark to kind of move it off some of these depressed levels, and I think that’s what we’re seeing,” said Anthony Saglimbene, chief market strategist at Ameriprise. “I think we’re still in for a period of choppiness around stock trading, and I think heading into next week, it’s really going to be the big tech earnings that are going to really influence where the major averages go.”

The leading indexes are on pace to end the week higher. As of Thursday’s close, the S&P 500 has a week-to-date gain of nearly 4%. Meanwhile, the Dow Jones Industrial Average and the Nasdaq Composite are up more than 2% and more than 5% on the week, respectively.

Other key names like AutoNation, Colgate-Palmolive and AbbVie are set to report their quarterly results before the bell on Friday.

Investors are also looking ahead to consumer sentiment data for April, due out at 10:00 a.m. ET. Economists polled by Dow Jones are expecting the reading to show no change from the previous month at 50.8.

Alphabet, Intel among the names making moves after the bell

Check out the stocks making big moves in extended trading Thursday:

• Alphabet – Shares of the Google-parent gained about 5% after its first-quarter results topped Wall Street’s expectations. Alphabet earned $2.81 per share on $90.23 billion in revenue for the quarter, while analysts surveyed by LSEG had expected $2.01 per share and $89.12 billion in revenue.
• Intel – The stock fell almost 6% after the company’s outlook for the current quarter disappointed investors. Intel is calling for revenue for the period to come in at $11.8 billion dollars at its midpoint, less than the average estimate among analysts of $12.82 billion, and anticipates that earnings will be breakeven. The company also said it’s planning to cut its operational and capital expenses.
• Gilead Sciences – The biopharmaceutical stock dropped more than 3% on the heels of the company’s weaker-than-expected first-quarter revenue. The company rang up $6.67 billion in sales versus the $6.81 billion that analysts had penciled in, according to LSEG. Earnings for the quarter came in better than expected, however.

Read here for the full list.

— Sean Conlon

S&P 500 futures open higher

S&P 500 futures rose on Thursday night following another winning session for stocks.

Futures linked to the broad market index traded 0.2% higher just after 6 p.m. ET, and Nasdaq-100 futures climbed 0.3%. Futures tied to the Dow Jones Industrial Average fell 0.1%, meanwhile.

— Sean Conlon