Dow Jones futures rose modestly Thursday night, along with S&P 500 futures and Nasdaq futures, as Snap stock and Twitter leapt on earnings, lifting social rivals such as Facebook (FB). The stock market rally was mixed Thursday, with Apple (AAPL), Microsoft (MSFT) and other megacap techs and software leading the way while small caps and many sectors retreated.
Snap and Twitter earnings crashed views amid booming revenue growth. Snap and TWTR stock surged in overnight trade, signaling possible breakouts. That also gave a lift to Facebook stock and Pinterest (PINS), as well as Google stock, all of which report next week. Facebook and Pinterest stock had flashed bullish reversals from their 50-day lines earlier this week.
Intel beat views but gave mixed guidance. Intel stock fell modestly in extended trade.
Apple, Microsoft Lead Market Rally
The stock market rally fared well on the major indexes. Apple stock rose 1% on Thursday while Microsoft, Amazon.com (AMZN) and Facebook stock climbed more than 1%. Google parent Alphabet (GOOGL) climbed 0.7%.
On the downside, small caps pulled back. So did many real economy sectors, though they pared losses.
Dow Jones Futures Today
Dow Jones futures rose 0.2% vs. fair value. S&P 500 futures climbed 0.3%. Nasdaq 100 futures gained 0.3%, helped by Facebook and Google stock.
Coronavirus cases worldwide reached 193.37 million. Covid-19 deaths topped 4.15 million.
Coronavirus cases in the U.S. have hit 35.21 million, with deaths above 626,000.
Stock Market Rally
The stock market rally saw slim gains on the major indexes, some solid gains for leading stocks but weakness elsewhere.
The Dow Jones Industrial Average edged up 0.1% in Thursday’s stock market trading. The S&P 500 index climbed 0.2%. The Nasdaq composite advanced 0.4%, with the big-cap Nasdaq 100 up nearly 0.7%. The small-cap Russell 2000 slumped 1.6%.
Apple stock and Microsoft are part of the Dow Jones, S&P 500 and Nasdaq composite, so these $2 trillion-plus market-cap giants sway markets. Amazon, Google and Facebook stock, the next biggest companies by market cap, are S&P 500 and Nasdaq members. All five tech titans report earnings next week.
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