U.S. stock index futures rose slightly on Thursday evening, remaining upbeat after Wall Street hit a record high as positive tech earnings and strong retail sales data underscored resilience in the economy, News.az reports citing Investing.
Speculation over interest rate cuts by the Federal Reserve also aided Wall Street, especially after Governor Christopher Waller said he supported a 25 basis point cut later in the month. But Waller is still among a minority in the central bank calling for immediate rate cuts.
Markets are now gearing up for a barrage of major earnings next week, with a host of Wall Street giants set to report in the coming days.
S&P 500 Futures rose 0.1% to 6,350.25 points, while Nasdaq 100 Futures rose 0.1% to 23,281.50 points by 20:17 ET (00:17 GMT). Dow Jones Futures rose 0.2% to 44,818.0 points.
Netflix dips despite strong Q2 earnings, guidance raise
Streaming giant Netflix Inc (NASDAQ:NFLX) reported stronger-than-expected earnings and hiked its annual revenue guidance, although its shares still fell from near record highs in aftermarket trade.
Netflix was down 2% at $1,250.15.
Still, the company clocked a bumper second quarter, thanks to smash streaming hits such as the second season of “Squid Game.”
But investors had expected more. Investing.com analyst Thomas Monteiro said markets were positioning for a “much stronger upward revision” to 2025 guidance.
Wall Street hits record high on strong earnings, retail sales data
The S&P 500 and the Nasdaq Composite closed at record highs on Thursday, boosted by strong earnings through the week and as retail sales data highlighted persistent strength in the American consumer.
The trend also helped investors largely look past concerns over increased trade tariffs under President Donald Trump, which are set to take effect from August 1.
The Nasdaq in particular was boosted by stellar earnings from chipmaking bellwether TSMC (NYSE:TSM), which also flagged sustained strength in artificial intelligence-driven demand for chips. U.S. shares of the firm rose 3.4% on Thursday, with gains spilling over into other chipmakers and tech shares.
The S&P 500 rose 0.5% to a record close of 6,297.48 points. The NASDAQ Composite rose 0.8% to 20,885.65 points, while the Dow Jones Industrial Average rose 0.5% to 44,485.10 points.
Wall St prepares for earnings barrage next week
Relatively few earnings are scheduled for Friday, although majors such as American Express Company (NYSE:AXP), 3M Company (NYSE:MMM), and Charles Schwab Corp (NYSE:SCHW) are still set to report.
But Wall Street is set for a barrage of major earnings next week, including prints from Coca-Cola Co (NYSE:KO), Texas Instruments Incorporated (NASDAQ:TXN), Alphabet Inc (NASDAQ:GOOGL), and Tesla Inc (NASDAQ:TSLA).
The second-quarter earnings season kicked off in earnest this week, with positive prints from several of Wall Street’s biggest banks.
