Wall Street futures pointed higher pre-bell Thursday after tech colossus Microsoft (MSFT) reported strong Q2 earnings results overnight, and substantial growth in its cloud business.
In the futures, the S&P 500 rose 0.5%, the Nasdaq inclined 1% and the Dow Jones was up 0.3%.
Microsoft shares traded up 9.4% pre-bell, while the VanEck Semiconductor fund (SMH) gained 1.9% before the open.
Index heavyweights Apple (AAPL) and Amazon.com (AMZN) post quarterly results after-bell.
Despite Persian Gulf turmoil, West Texas Intermediate crude oil traded down 0.6% at $83.90.
Traders also await the Q2 gross domestic product (GDP) first estimate at 8:30 am ET in Washington, for a big-picture view into how the domestic economy is performing given Middle East hostilities and higher oil prices. Also at 8:30 am is the June personal expenditures-core (PCE-core) price index, the Federal Reserve's preferred inflation gauge.
Asian exchanges finished mixed and relatively muted overnight, while European bourses tracked moderately north midday on the continent.
Fortinet (FTNT) traded up 10.1% pre-bell after the cybersecurity outfit reported positive Q2 financial results and raised guidance, late Wednesday.
On the economic calendar, in addition to the Q2 GDP and PCE-core reports, is the
weekly jobless claims at 8:30 am ET, and the weekly EIA natural gas report at 10:30 am.
In premarket action, Bitcoin traded at $64,532, while 10-year US Treasuries offered 4.70%, the highest yield since early 2023. Spot gold commanded $4,078 an ounce.
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