Key Takeaways

• Futures edge higher: S&P 500 futures gained 0.1% to 7,250.75, Dow Jones futures rose 0.14% to 49,907.0, while Nasdaq 100 futures slipped 0.13%.
• Records shattered Thursday: The S&P 500 closed up 1% above 7,200 for an all-time high, the Nasdaq Composite added 0.9% to its own record, and the Dow surged 1.6%.
• Apple’s banner quarter: Shares jumped over 3% premarket after the iPhone maker posted records for total revenue and EPS, with iPhone sales growing more than 20% for a second straight quarter.
• Reddit explodes: The social media platform soared nearly 17% after first-quarter results blew past expectations, with daily active users beating estimates.
• Resilient earnings narrative: Strong corporate results are helping markets brush off inflation worries and geopolitical risks tied to the Iran war.
• Friday earnings on deck: Chevron, Exxon Mobil, and AutoNation are all set to report before the opening bell.

U.S. stock futures climbed in premarket trading on Friday after the benchmark S&P 500 and Nasdaq Composite carved out fresh record highs the day before, as investors weighed buoyant corporate earnings against persistent geopolitical risks tied to the Iran conflict.

S&P 500 futures inched 0.1% higher to 7,250.75 points, while Nasdaq 100 futures edged lower by 0.13% to 27,561.275 points by 05:38 ET (09:38 GMT). Dow Jones futures gained 0.14% to 49,907.0 points.

S&P 500 and Nasdaq Hit Record Highs on Earnings Boost

Equities finished higher on Thursday, with the S&P 500 climbing 1% to a record close above the 7,200 mark, while the Nasdaq Composite gained roughly 0.9% to also clinch an all-time high. The Dow Jones Industrial Average outperformed both, jumping 1.6%.

The advance came as a series of upbeat results from major companies reinforced optimism around corporate profitability, helping markets brush off lingering concerns about inflation and geopolitical risks.

Apple and Reddit Steal the Spotlight

In premarket trading, Apple shares rose more than 3% in the wake of its quarterly earnings report, as investors cheered signs of resilient iPhone demand and continued strength in its high-margin services business.

Apple posted records for total company revenue and earnings per share, as iPhone sales grew more than 20% for a second consecutive quarter.

Meanwhile, Reddit shares rocketed nearly 17%, propelled by stronger-than-expected first-quarter results, with daily active users coming in well above estimates.

Earnings Parade Continues

Investors also looked ahead to the next wave of corporate results, with companies including Chevron Corp, Exxon Mobil, and AutoNation Inc all set to report before Friday’s opening bell.