S&P 500 futures rise after strong Apple, Amazon reports as Wall Street heads for winning week

Stock futures rose on Thursday night as Wall Street looked to end the week higher, boosted by strong quarterly reports from key tech companies.

S&P 500 futures were up 0.5%, while Nasdaq 100 futures were up 1%. Futures contracts tied to the Dow Jones Industrial Average were unchanged.

Futures were supported by extended gains in two of the market’s biggest stocks. Shares of Amazon and Apple edged higher after showing strong sales growth in cloud computing and Iphonerespectively, in their most recent quarters.

The move in futures comes after a second consecutive rally for the stock. The Dow is now up nearly 2% for the week, while the Nasdaq Composite’s S&P 500 is up 2.8%.

Those benefits have come though 3/4 percentage point increase from the Federal Reserve on Wednesday and Negative GDP on Thursday.

“The market is hoping that slowing economic growth will lead to a more dovish Fed in the future, even if it does go a little further. So I see it as reasonable to expect lower rates in the future. The future will lead a bit Lauren Goodwin, economist and portfolio strategist at New York Life Investments said.

However, Goodwin warned that the unusual economic environment and the long time before the next Fed meeting make it difficult to predict the central bank’s path from here.

Investors will get an update on key inflation and second-quarter employment costs on Friday, which could be key data points for the Fed as it considers its next move. follow his.

Investors also took a look at a bunch of mixed earnings reports this week. Shares of Roku fell more than 20% in after-hours trading after the company missed estimates and warnings about advertising slowdowns. Chip maker Intel drops 7% after Quarterly results are not as expected.

On Friday, key earnings included Chevron, Exxon Mobil and Procter & Gamble.

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