- Posted on October 25, 2024
- News
- By FC Team
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Investing.com -- U.S. stock index futures edged higher Friday as investors hunkered down before a string of major technology earnings, as well as the highly-influential monthly jobs report, in the coming week. At 05:30 ET (09:30 GMT), Dow Jones Futures rose 115 points, or 0.3%, S&P 500 Futures climbed 16 points, or 0.3% and Nasdaq 100 Futures gained 65 points, or 0.3%. The S&P 500 and the NASDAQ Composite rose Thursday, boosted by positive earnings from Tesla (NASDAQ:TSLA), while the Dow Jones Industrial Average lagged.However, these indices were still on course for losses this week, which would snap six-week win streaks for all three. Risk appetite remained frail, and there has also been some profit-taking after a series of record highs earlier in October. Mega tech earnings due next week The third-quarter earnings season is set to peak next week, with five of Wall Street’s so-called “Magnificent Seven” set to report earnings.Alphabet (NASDAQ:GOOGL) will report on Tuesday, followed by Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT) on Wednesday. Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) will then report on Thursday. The five firms represent a large chunk of overall market capitalization in Wall Street, with their earnings likely to act as a bellwether for the broader market. Focus will be squarely on whether artificial intelligence proved to be a major earnings driver, especially amid increased capital expenditures on the fast-growing sector. Beyond the Magnificent Seven, a barrage of other Wall Street majors are set to report next week, including Advanced Micro Devices (NASDAQ:AMD), Caterpillar (NYSE:CAT), Visa (NYSE:V), Ford (NYSE:F), and Uber Technologies (NYSE:UBER).