The movement of U.S. equity futures were uneven on Thursday after energy prices surged to levels unseen since 2022 and quarterly results from leading technology firms highlighted ongoing enthusiasm for artificial intelligence. Investors weighed shifting sentiment following the latest updates from major indexes and Big Tech earnings.
At 4:22 p.m. (Bangkok Time), S&P 500 futures slipped 0.07%, with the Nasdaq 100 index edging up 0.08%. Dow futures dropped by 0.45%. In regular trading hours, the Dow posted its fifth consecutive day of declines, shedding 280.12 points, or 0.57%. The S&P 500 dipped 0.04%, while the Nasdaq Composite recorded a slight 0.04% gain.
Oil markets saw notable gains, with Brent crude on Thursday climbing to $121.44 a barrel and West Texas Intermediate climbed to $108.53. The increase came after reports surfaced that President Donald Trump is considering new military measures targeting Iran, leading to renewed concerns about escalating tensions and limited prospects for relaxed trade in the Strait of Hormuz.
Market participants evaluated a wave of quarterly results from major technology companies released late Wednesday. Meta Platforms shares plunged nearly 7% as the company disclosed lower-than-anticipated capital spending and slower user expansion. Microsoft also dipped 1% despite topping consensus forecasts for revenue and earnings.
Alphabet, meanwhile, gained 7% after reporting first-quarter revenue exceeding projections and stronger-than-expected cloud business performance. Amazon advanced about 3% following a similar beat on overall results, bolstered by robust growth from its cloud division.
The technology earnings parade continues Thursday as Apple prepares to announce its quarterly results after the close. Market attention remains focused on how investments in artificial intelligence are shaping revenue across the sector.
On the policy front, the U.S. Federal Reserve opted to keep its benchmark rate between 3.5% and 3.75%, in line with expectations. However, four officials dissented, the most significant split in more than three decades. The recent meeting marked a potential endpoint for Jerome Powell’s tenure as Fed chair, with Trump’s nominee Kevin Warsh positioned to take over pending formal transition.
Market watchers are awaiting Thursday’s release of March PCE inflation data, expected to add further context to ongoing policy discussions within the Federal Reserve.
