Nasdaq futures jump 2% after Meta earnings beat
2022.04.28 12:41
FILE PHOTO: Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar//File Photo
(Reuters) – Nasdaq 100 futures jumped more than 2% on Thursday as Meta Platforms shares soared after a stronger-than-expected profit, taking some pressure off growth and technology stocks that have been battered recently.
The Facebook-parent rose 17.7% in early New York trading after the social-networking site also eked out user growth.
Other megcap stocks such as Apple Inc (NASDAQ:AAPL), Microsoft Corp (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN) and Tesla (NASDAQ:TSLA) Inc rose between 1.7% and 3.4%.
The Nasdaq Composite index is on course to post losses of over 10% in April, as investors dumped high-growth stocks on fears that rising interest rates will threaten future earnings and after Netflix Inc (NASDAQ:NFLX) posted a shocking subscriber loss.
Apple, the world’s most valuable company, and e-commerce giant Amazon are set to report earnings after markets close on Thursday.
Qualcomm (NASDAQ:QCOM) Inc jumped 8.4% after the chipmaker forecast third-quarter revenue above analyst expectations.
At 05:05 a.m. ET, Dow e-minis were up 390 points, or 1.17%, S&P 500 e-minis were up 76.75 points, or 1.84%, and Nasdaq 100 e-minis were up 328.25 points, or 2.52%.
