US Stock Futures Rise as Markets Await July Payrolls Data

U.S. stock futures edged higher Thursday evening as investors reacted to upbeat corporate earnings and turned their attention to the July nonfarm payrolls report for fresh signals on Federal Reserve interest rate policy.

S&P 500 futures gained 0.06% to 7,739.75, while Nasdaq 100 futures advanced 0.35% to 29,591.50. Dow Jones futures slipped slightly to 53,991. The moves followed a weaker Wall Street session, where the recent technology stock rebound lost momentum and optimism surrounding a potential agreement with Iran faded.

Airbnb and Cloudflare were among the biggest movers in after-hours trading following stronger-than-expected quarterly results. Airbnb shares jumped about 11% after the vacation rental company exceeded Wall Street forecasts and raised its full-year outlook.

Cloudflare shares climbed roughly 15% after reporting better-than-anticipated revenue and earnings. The cloud infrastructure company benefited from growing demand for technology supporting the expansion of artificial intelligence applications.

Technology stocks remain closely watched as investors weigh strong AI-related demand against concerns about elevated valuations and heavy spending. Recent earnings reports from SanDisk and Western Digital provided less enthusiasm.

Investor focus is now shifting to Friday's U.S. nonfarm payrolls report. The July employment data could influence expectations for the Federal Reserve's next interest rate moves, particularly as policymakers balance labor market conditions against persistent inflation. Payroll growth is expected to accelerate from June while remaining relatively subdued amid broader economic weakness and AI-related disruptions.

Wall Street's major indexes declined Thursday but remained on track for solid weekly gains after reaching record highs earlier in the week. The S&P 500 was heading toward a 2.9% weekly advance, the Dow Jones Industrial Average was up 2.7%, and the Nasdaq Composite was positioned for a 3.8% gain.

Geopolitical risks also remain a key market concern. Earlier optimism over a possible U.S.-Iran agreement to reopen the Strait of Hormuz weakened as no deal emerged and military tensions remained elevated. A sharp rebound in oil prices on Thursday added to concerns about inflation and potential economic disruption.