Stock futures exhibited a mixed performance as the final trading day of April approached, with investors contemplating earnings reports from four major technology firms while anticipating results from another member of the “Magnificent Seven,” Apple. Futures for the Nasdaq 100 and S&P 500 indicated increases of 0.3% and 0.2%, respectively, whereas futures for the Dow Jones Industrial Average showed a decline of 0.1% in recent trading activity. Yesterday, the three major U.S. stock indexes concluded the trading session predominantly lower following the Federal Reserve’s decision to maintain interest rates. Concurrently, oil prices experienced a continued upward trajectory after President Donald Trump indicated preparations for a prolonged blockade of Iran.
Nonetheless, the indexes are set to achieve substantial gains for April. The Nasdaq Composite, S&P 500, and Dow commenced the day with gains exceeding 14%, 9%, and 5%, respectively, for the month. After the closing bell, four trillion-dollar tech giants—Alphabet, Amazon, Meta Platforms, and Microsoft—reported earnings. In premarket trading on Thursday, shares of Google parent Alphabet increased by 6%, while Amazon saw a rise of 2.5%. Conversely, shares of Meta and Microsoft experienced declines of 9% and 2%, respectively. Fellow Magnificent Seven member Apple is slated to report results after markets close today, and shares ticked higher before the bell. Merck shares rose 4% after the pharmaceutical firm raised its adjusted profit outlook for the year. Other notable companies set to issue earnings before the bell include Eli Lilly, Mastercard, and Caterpillar.
Investors will be attentive to the upcoming release of various economic indicators, notably the initial first-quarter GDP reading and the March Personal Consumption Expenditures price index, which serves as the Federal Reserve’s preferred measure of inflation, both scheduled for 8:30 am. Crude oil Futures reached a four-year high early Thursday after an Axios report indicated that Trump was scheduled to receive a briefing from commanders regarding new military options for Iran today, before subsequently reversing direction. West Texas Intermediate futures, the U.S. crude oil benchmark, experienced a slight decline to $106.75 a barrel in recent trading, while front-month contracts of Brent crude, the global benchmark, decreased by 1.5% to $116.25 after previously surging above $126.
The 10-year Treasury yield, a key determinant of interest rates on mortgages and various consumer loans, decreased to 4.40% from Wednesday’s closing level exceeding 4.43%. Gold futures increased by 1.8%, reaching a price of $4,640 per ounce. Bitcoin traded at $76,000, reflecting an increase from the previous overnight lows of approximately $75,300. The U.S. dollar index, which monitors the value of the greenback relative to a selection of foreign currencies, registered a decline of 0.2%, settling at 98.74.