Stock market today: Dow, S&P 500, Nasdaq futures climb despite Apple, Amazon results pointing to trouble ahead
US stock futures climbed after a day of Wall Street digesting earnings reports from Apple (AAPL) and Amazon (AMZN) as news broke that China and the US are opening the door towards tariff negotiations.
Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) climbed 0.7%. Futures attached to the tech-heavy Nasdaq Composite (NQ=F) ascended 0.5%.
41,131.00
–
+(0.68%)
As of 2:03:10 a.m. EDT. Market Open.
YM=F ES=F NQ=F
Overnight Thursday an announcement from China’s Commerce Ministry made clear that Beijing is “evaluating” the current state of affairs in the trade war between China and the US. The declaration is the first step towards lowering the sky-high reciprocal tariffs that have erupted in the ongoing trade war between the world’s two largest economies.
Apple earnings beat Wall Street expectations on Thursday, but shares fell as the tech giant reported disappointing sales in China and warned of a $900 million hit from President Trump’s tariffs.
Read more: The latest on Trump’s tariffs
Amazon also issued an earnings beat that came with a curve ball. The company’s guidance for its operating income in the current quarter missed Wall Street’s expectations, sending shares lower.
The two latest Big Tech reports threw cold water on Wall Street’s elation after Microsoft (MSFT) and Meta (META) earnings stunned investors on Wednesday. The tech companies’ results sent the Nasdaq surging during the day Thursday and lifted the other indexes as well.
On Friday, Wall Street’s attention will turn to the April jobs report. The reading is the first since Trump’s “Liberation Day” tariffs, and investors will be vigilant for signs of a cooling labor market.
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