US stocks were set to bounce back on Friday as Alphabet (GOOG, GOOGL) and Microsoft (MSFT) earnings revived hopes for a Big Tech-led rally. But a key inflation report ahead could put a spoke in the wheel.
S&P 500 (^GSPC) futures rose roughly 0.8%, while contracts on the tech-heavy Nasdaq 100 (^NDX) jumped 1%. Futures on the Dow Jones Industrial Average (^DJI), which includes fewer tech stocks, were up 0.1%.
Gains for Alphabet and Microsoft are giving stocks a lift after Thursday’s sell-off, with rises of around 12% and 4%, respectively. The stellar results from the “Magnificent Seven” duo showed cloud revenue boosted by strong AI demand — and scope for both to benefit from that boom.
That fired up confidence that earnings from the Magnificent Seven techs can lift the broader market out of the doldrums — confidence that had taken a knock from Meta’s (META) disappointing forecast…
