Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) futures are on track for a a triple-digit pop this morning, while the S&P 500 Index (SPX) is also set to open higher. Boosting investor sentiment are strong results from Caterpillar (CAT) and Amazon.com (AMZN), as well as cooling oil prices.
Wall Street is also digesting inflation data after the Federal Reserve kept interest rates unchanged yesterday. Meanwhile, the core personal consumption expenditures (PCE) index rose 0.3% in March, bringing the annual core inflation rate to 3.2%, meeting analysts' estimates. The gross domestic product (GDP) reading of 2% fell short of expectations.
- Energy stock surged after earnings triple play.
- 15 stocks that look ripe for a short squeeze.
- Plus, unpacking earnings from AMZN, META, and MSFT.
5 Things You Need to Know Today
- The Cboe Options Exchange saw more than 2.3 million call contracts and 1.2 million put contracts traded on Wednesday. The single-session equity put/call ratio stayed at 0.52, while the 21-day moving average remained at 0.60.
- Amazon.com (NASDAQ:AMZN) stock is 3.8% higher before the open, after the company beat first-quarter revenue estimates thanks to strong cloud growth. AMZN attracted at least 23 price-target hikes in response, including one at Benchmark to $370 from $275. Longer term, Amazon stock is up 40.4% in the last 12 months.
- Meta Platforms Inc (NASDAQ:META) stock is 8.8% lower before the bell, brushing off a first-quarter earnings and revenue win after the tech concern hiked its full-year capital expenditures outlook, sparking AI spending concerns. J.P. Morgan Securities downgraded META to "neutral" from "overweight," and slashed its price objective to $725 from $825. At least six other analysts lowered their price objectives as well. Shares are today looking to slip into negative territory for 2026 and log a third-straight drop.
- Shares of Microsoft Corp (NASDAQ:MSFT) are 1.8% lower ahead of the open, despite topping top- and bottom-line estimates for the fiscal third quarter on Azure cloud growth. The company predicted higher-than-expected 2026 capital expenditures, while quarterly revenue and operating margin guidance came short of estimates. With a mix of numerous bull and bear notes across the tape, MSFT is down 12.2% this year.
- What's on tap for the last week of April.
European Stocks Higher on Slew of Earnings
Asian bourses finished lower Thursday, weighed down by oil prices spiking to four-year highs. South Korea’s Kospi fell 1.4% but still recorded its strongest monthly gain since January 1998, climbing nearly 31% driven by a surge in tech stocks. Meanwhile, Japan’s Nikkei lost 1.1% and Hong Kong’s Hang Seng shed 1.3%, while China’s Shanghai gained 0.1%.
European stocks are broadly higher on Thursday, as investors assess earnings reports along with the European Central Bank (ECB) and the Bank of England (BoE) holding interest rates steady. Euro zone data is also in focus, after growth climbed only 0.1% in April. Nevertheless, London’s FTSE 100 gained 1.4% and Germany’s DAX tacked on 0.8%, the latter boosted by Volkswagen’s report. France’s CAC declined 0.1%, with banks BNP Paribas and Societe Generale weighing after their respective reports.
