/cdn.vox-cdn.com/uploads/chorus_asset/file/25406819/STK051_TIKTOK_CVirginia_D.jpg)
US stock futures rose on Thursday, eyeing a tech-led comeback as TSMC's (TSM) upbeat results raised AI hopes and investors prepared for Netflix (NFLX) to kick earnings season into high gear.
S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) futures rose about 0.2% after the close with their recent declines. Nasdaq 100 (^NDX) futures also added 0.2% after technology stocks closed more than 1% lower.
Stocks struggled amid concerns that inflation is no longer cooling and that the Federal Reserve may ease interest rate cuts. This has put corporate earnings at the center of attention as investors closely watch how reports match high expectations.
Signs of strong demand for artificial intelligence in TSMC's results revived optimism for chip and technology stocks (XLK), which led to a pullback on Wednesday. The Taiwanese chip giant, seen as a leader in the industry, cited an “insatiable” appetite for artificial intelligence as it posted quarterly profits.
The earnings focus now turns to Netflix, as the focus shifts to technology stocks, including a group of “hot” companies. The streaming leader's financial update later Thursday is viewed by some as the first real test for stocks this earnings season, given that big tech still plays a big role in pushing markets higher.
Meanwhile, the market is still watching the debate over whether the Fed may refrain from cutting interest rates this year, in light of the “no bear” chances for the economy. Policymakers, including John Williams and Rafael Bostic, are scheduled to appear on Thursday.
Initial unemployment claims for the week ending April 13 reached 212,000, according to Labor Department data released Thursday. The reading was lower than the consensus estimate of 215,000 compiled by Bloomberg.
US bond yields continued to fall from their highest levels in the last five months, easing pressure on stocks. The 10-year Treasury yield (^TNX) fell by about 2 basis points to trade near 4.56%.
He lives2 updates
“Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff.”
More Stories
The wage increases reveal another “thorny” problem for the Fed
Super Micro misses quarterly revenue estimates as stock rises, shares fall 14%
Amazon shares pop after earnings beat