S&P 500 futures experienced an increase on Thursday evening, following Wall Street’s third consecutive day of gains and strong quarterly results from Alphabet. Futures linked to the S&P 500 rose by 0.3%, while Nasdaq-100 futures climbed 0.4%. In extended trading, Alphabet’s shares surged approximately 5% after surpassing expectations for the first quarter. Conversely, Intel’s shares dropped more than 5% due to disappointing guidance and plans to cut operational and capital expenses.
The three major averages closed positively during Thursday’s session, extending their winning streak to three days. This was driven by advancements in megacap technology stocks, which had suffered recently due to investor concerns over rising global trade tensions. Stocks have remained in a trading range since President Donald Trump’s ‘reciprocal’ tariffs announcement on April 2, as investors await clarity on negotiations with key trading partners like China.
Intel’s CEO mentioned potential layoffs and changes in work policies, which could impact the market sentiment further. Despite these challenges, the leading indexes are on track to end the week higher, with the S&P 500 gaining nearly 4% week-to-date.
— new from CNBC