Dow Jones| Nasdaq | US Stock Market Today | Live: US market futures rise as Microsoft gains offset Fed concerns
Dow Jones Today | US Stock Market Live: Wall Street ended sharply higher on Thursday, with chip stocks jumping and Microsoft soaring after the technology giant gave a stellar forecast that eased fears about massive spending on AI infrastructure.
Investors have been spooked by rising AI costs at big technology firms even as they report strong earnings. Negative cash-flow reports from Alphabet and Tesla last week sparked a bout of selling in AI-linked stocks, with chip stocks also coming under pressure as investors questioned high valuations. The tech-heavy Nasdaq-100 dropped 10% from its early June peak on Wednesday.
Benchmark three-month copper on the London Metal Exchange was up 1.4% to $13,767 per metric ton in official open outcry activity, after declining in the previous two sessions.
Microsoft rose 9% in premarket trading after the company forecast current-quarter sales and cloud growth that beat expectations, gave a capital expenditure outlook below Wall Street estimates and said it expects to keep generating cash through its just-started fiscal 2027.
US stock futures rose Thursday, recovering from a sharp selloff fueled by uncertainty over the Federal Reserve’s policy outlook, as Microsoft’s forecast-beating results eased concerns about heavy corporate AI spending. Dow futures gained 209 points, or 0.4%, S&P 500 futures rose 0.62% and Nasdaq 100 futures jumped 1.34%.
