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Stocks looked set to soar on Thursday after blowout earnings from two blue-chip Big Tech companies put investors in a cheery mood, even after the Federal Reserve held interest rates steady.
Futures tracking the Dow Jones Industrial Average were up 140 points, or 0.3%. S&P 500 futures added 0.9% and contracts tied to the Nasdaq 100 jumped 1.3%, putting the tech-heavy index on course for yet another record.
The gains came after IT giant Microsoft and Facebook parent Meta Platforms topped Wall Street’s lofty earnings expectations, with both companies flagging artificial intelligence as one driver of profit growth. The results ought to win over any investors who weren’t already all-in on the AI trade.
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