US Stock Futures Rise as Amazon Earnings Boost AI Optimism Despite Apple Selloff

U.S. stock index futures moved higher late Thursday after strong quarterly results from Amazon and Microsoft renewed investor confidence in artificial intelligence, although gains were capped by a sharp decline in Apple shares following a weaker-than-expected sales outlook.

S&P 500 Futures climbed 0.26% to 7,491.75, Nasdaq 100 Futures advanced 0.7% to 28,440.0, and Dow Jones Futures added 0.2% to 52,506.0 by 20:10 ET (00:10 GMT).

Market sentiment also improved as geopolitical tensions showed signs of easing. Reports suggested Iran and Oman were engaged in talks regarding the Strait of Hormuz, while U.S. President Donald Trump announced a disarmament agreement in Gaza. These developments helped reduce risk aversion, though investors remained cautious after a difficult month for technology stocks.

Amazon emerged as the biggest winner in after-hours trading, with shares jumping 9.4% after the e-commerce giant reported stronger-than-expected second-quarter earnings. Its Amazon Web Services (AWS) division delivered its fastest revenue growth in 18 quarters, reinforcing optimism surrounding the company’s AI strategy. Amazon also highlighted accelerating demand for its artificial intelligence services and custom AI chips, adding to positive momentum created by Microsoft’s strong earnings report earlier in the week.

In contrast, Apple shares dropped more than 6% in extended trading despite solid iPhone sales. Investors focused on weaker sales in China, slower growth in its services business, and a revenue forecast of 9% to 11% for the current quarter, below Wall Street expectations of 12%. Apple also warned that higher memory and component costs, driven by booming AI demand, were creating supply chain pressures.

Earlier Thursday, Wall Street closed sharply higher. The S&P 500 gained 1.7%, the Dow Jones Industrial Average rose 1.2%, and the Nasdaq Composite surged 2.8%. Semiconductor stocks led the rally, with the Philadelphia Semiconductor Index soaring 8.2%, as investors regained confidence in AI-related spending despite Meta Platforms falling 8% after raising its capital expenditure outlook.

Even with Thursday’s rebound, major U.S. indexes remained on track for monthly losses. The S&P 500 was set to decline 0.8% in July, the Dow Jones Industrial Average was down 0.2%, and the Nasdaq Composite was headed for a steeper 4.2% monthly drop after a broad selloff in technology and chipmaking stocks.