Futures linked to major US equity indexes edged higher on Friday, extending the recent rally as fresh corporate earnings offset concerns over a continued blockade of Persian Gulf exports. S&P 500 and Nasdaq futures hovered near record levels, while Dow futures posted modest gains.
Apple climbed more than 3% in premarket trading after posting strong results and an upbeat outlook, driven by solid demand for its latest iPhone and resilient sales in China. Energy heavyweights ExxonMobil and Chevron also advanced, with both companies beating first-quarter profit estimates.
Shares of major cloud “hyperscalers” were mostly higher following earnings released after Wednesday’s close, as investors assessed whether indications of increased AI-related spending are justified by underlying demand. According to the latest data, AI investment was a key driver of US GDP growth in the first quarter, helping to counterbalance signs of weakening private consumption.
