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U.S. stock futures inched higher on Thursday as investors weighed a mixed round of mega-cap technology earnings alongside the Federal Reserve’s decision to keep interest rates unchanged.
By 05:25 ET, Dow Jones futures were up 60 points, S&P 500 futures gained 16 points, and Nasdaq 100 futures rose 85 points.
The S&P 500 briefly crossed the 7,000 mark on Wednesday before closing nearly flat after the Fed held rates in the 3.50% to 3.75% range, marking its first pause after three consecutive cuts.
Fed Holds Rates Steady
The Federal Reserve cited still-elevated inflation, steady growth, and a stabilizing labor market in its statement, offering little guidance on when cuts may resume. The decision provided a sense of stability, but reinforced expectations that any easing ahead will be gradual and data-driven.
Meta Jumps, Microsoft Slips
Earnings from tech giants drove early moves. Meta surged more than 7% in premarket trading after forecasting first-quarter revenue above expectations and highlighting strong advertising demand and AI momentum. The company also announced a sharp increase in capital spending this year, underscoring the scale of its AI push.
Microsoft shares fell after the company flagged heavier-than-expected AI investment and slightly slower growth in its Azure cloud division.
Tesla moved higher premarket after beating quarterly estimates and signaling a stronger pivot toward artificial intelligence as its core auto business remains under pressure. Apple’s results later today are expected to draw close scrutiny for signs of cost pressures.
Gold and Oil Extend Powerful Rally
Gold continued its historic surge, climbing toward $5,600 an ounce amid reports that Washington may consider new military action against Iran. Silver also hit fresh records above $119, while copper reached a new all-time high, driven by safe-haven demand, a weaker dollar, and policy uncertainty.
Oil prices advanced sharply on fears of potential supply disruptions from Iran. Brent rose to $68.57 a barrel and WTI climbed to $64.44, leaving both benchmarks up about 5% since Monday and at their highest levels since late September.
Markets remain caught between resilient corporate earnings, cautious central bank policy, and a rapidly intensifying geopolitical backdrop.
