US Stock Futures Rise as AI Optimism Lifts Nvidia, Microsoft, Amazon While Apple Slips

U.S. stock index futures climbed on Friday, extending Wall Street’s technology-led rebound as renewed confidence in artificial intelligence investments boosted investor sentiment despite lingering concerns over spending and supply chain challenges.

As of 05:42 ET (09:42 GMT), Dow Jones futures gained 261 points, or 0.5%, while S&P 500 futures advanced 35 points, also up 0.5%. Nasdaq 100 futures outperformed with a 317-point, or 1.1%, increase, driven by continued strength in technology stocks.

The rally followed Thursday’s sharp gains on Wall Street, where Microsoft’s stronger-than-expected earnings restored confidence that massive AI infrastructure investments could deliver long-term returns. Analysts at Vital Knowledge also pointed to reports that hedge fund Situational Awareness had significantly reduced its equity holdings, suggesting that the recent selloff in AI-related stocks was driven more by technical factors and forced selling than weakening fundamentals.

The Philadelphia Semiconductor Index surged 8.19%, marking its strongest daily performance since April 2025, helping the S&P 500 record its best session in seven weeks despite weakness across most of its components.

Markets also continued to digest the Federal Reserve’s decision to keep interest rates unchanged, alongside easing U.S. inflation data and second-quarter economic growth that, while slower, indicated the economy remained resilient. The positive momentum spread globally, with South Korea’s KOSPI soaring 17.91% and European markets also trading higher.

Investors remained focused on major technology earnings. Apple shares fell in premarket trading after the company projected September-quarter revenue growth of 9% to 11%, below analysts’ expectations. The iPhone maker also warned that supply chain disruptions and rising memory chip costs could pressure profitability.

Amazon, however, jumped more than 12% in premarket trading after reporting robust results fueled by Amazon Web Services, whose revenue climbed 37% year over year to $42.2 billion. CEO Andy Jassy said AWS could eventually generate $1 trillion in annual revenue, reinforcing optimism around AI-driven cloud demand despite Amazon raising its 2026 capital spending forecast to $220 billion.

Later Friday, investors will turn their attention to earnings from ExxonMobil, Chevron, and AbbVie as the busy earnings season continues.