Traders work on the trading floor of the New York Stock Exchange.
New York Stock Exchange
Nasdaq 100 Futures Stocks rose late Thursday as traders analyzed key earnings reports ahead of the all-important jobs report.
Futures tied to technology stocks rose 0.4%. Dow Jones Industrial Average Futures Up 152 points, or 0.4%. S&P 500 Index Futures up 0.4%.
Amazon The e-commerce giant’s shares rose more than 5% as strength in its cloud computing and advertising businesses drove profits above Wall Street forecasts. Intel The company’s shares soared more than 5% after beating analysts’ revenue forecasts and providing strong guidance.
The moves follow a downbeat meeting on Thursday, in which S&P 500 Index and Nasdaq Index dragged down by plummeting financial reports Microsoft and meta platform. Both indexes had their worst trading days since early September.
Meanwhile, the Dow Jones plunged more than 300 points. Microsoft, Intel and Amazon led the blue-chip average lower as the reports spooked investors in big tech companies.
“Obviously, it’s largely driven by tech,” Jay Hatfield, chief information officer at Infrastructure Capital Management, said of Thursday’s decline. “I would also say people may be risk averse ahead of the election. ”
Thursday also marked the end of a losing trading month, a negative sign in a strong year. The Dow led the major indexes lower, down 1.3%, while the S&P 500 and Nasdaq fell 1% and 0.5% respectively.
Investors are focusing on closely watched employment data due on Friday morning. Economists polled by Dow Jones expect nonfarm payrolls to increase by 100,000 jobs in October, which would be the smallest increase in nearly four years. Meanwhile, the unemployment rate is expected to hold steady at 4.1%.
About The Author
