Stocks jump on Meta, Microsoft wins; Apple and Amazon next

U.S. stock futures climbed Thursday as investors digested strong earnings from Meta and Microsoft, along with a new U.S.-South Korea trade deal.

• S&P 500 futures ↑ 1.1%
• Dow futures ↑ 0.4%
• Nasdaq 100 futures ↑ 1.5% (boosted by Meta & Microsoft’s AI-driven results)

Key updates:

• Meta (META) surged 12% premarket after beating earnings and raising guidance despite heavy AI spending.
• Microsoft (MSFT) jumped 8% as Azure cloud growth impressed.
• Apple (AAPL) & Amazon (AMZN) report earnings later today.
• Inflation watch: The Fed’s preferred PCE index drops this morning, offering clues on rate cuts.

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Other movers:

• Carvana (CVNA) ↑ 15% after record car sales.
• eBay (EBAY) ↑ 14% on strong sales forecasts.
• AB InBev (BUD) ↓ 10% as beer demand slipped in Brazil and China.
• Qualcomm (QCOM) ↓ 6% despite solid earnings, with weak near-term catalysts.

Fed and trade news:

• The Fed held rates steady (for the 5th straight meeting), but Powell pushed back on September cut hopes.
• The U.S. and South Korea agreed to a trade deal avoiding new tariffs, easing market fears.