U.S. equity futures advanced on Friday as Wall Street rebounded, led by strong quarterly results from Amazon that contributed to positive investor sentiment. The rise in futures follows a broader surge in technology stocks, assuaging recent concerns about the outlook for artificial intelligence investments.
At 4:18 p.m. (Bangkok Time), futures tracking the Dow Jones Industrial Average gained approximately 0.54%, while S&P 500 futures rose 0.57%. Nasdaq-100 futures outperformed with a 1.37% increase, mirroring a significant 14% overnight rally in South Korea’s KOSPI index that temporarily halted trading.
Amazon’s shares jumped over 12% in pre-market trade as the company’s second-quarter revenue surpassed forecasts, bolstered by continued growth in its cloud computing division. The performance reinforced optimism around ongoing artificial intelligence expenditure. Meanwhile, Apple reported higher-than-expected fiscal third-quarter revenue, benefiting from a 22% increase in iPhone sales; however, weakness in service revenue sent its stock down 7%.
These after-hours developments followed Thursday’s sharp stock market rally, driven by a 16% surge in Microsoft shares after the firm disclosed stronger Azure cloud expansion. The optimism extended to semiconductor names, as AI-related chipmaker stocks broadly moved higher, pushing the iShares Semiconductor ETF up over 8%.
Recent quarterly reports from leading technology firms, often referred to as the “Magnificent Seven,” have indicated sustained investments in AI development. Projections from major cloud providers—including Amazon, Microsoft, Meta, and Alphabet—point to combined capital spending of $720 billion to $745 billion in 2026, helping to soothe investor nerves about potential slowdowns in the sector.
On the energy front, several oil majors such as ExxonMobil and Chevron are set to announce significant second-quarter profits, supported by persistently elevated crude prices amid ongoing conflict between the U.S. and Iran.
Although hostilities have reignited, crude prices retreated slightly as transport resumed through the Strait of Hormuz. U.S. benchmark WTI crude futures retreated 0.87% to $82.86 per barrel on Friday, while Brent futures slipped to $88.63.
