US equity futures edged higher on Thursday, extending their record run as an earnings-driven tech rally continued to buoy broader markets. Futures on the S&P 500 and Nasdaq rose 0.3%, pushing both indexes to fresh highs, while Dow futures climbed back above 50,000, nearing their all-time peak.
Increasingly ambitious guidance from AI-related companies continued to underpin risk appetite, offsetting pressure from elevated energy prices linked to the blockade in the Persian Gulf and a hawkish Federal Reserve outlook, reinforced by strong April retail sales.
Cisco gained 15% in premarket trading after reporting robust earnings and upbeat forecasts, while also announcing plans to cut 4,000 jobs as part of a drive to improve productivity. Nvidia added 2%, extending its rally to 15% so far this month after the US authorized 10 Chinese firms to receive its H200 chips.
The approval came as President Trump and several US tech CEOs visited Beijing, with both sides so far maintaining a de-escalatory tone since last year’s peak in trade tensions.
