26 Jan 2022
NASDAQ Futures Surge by 2% Post Booming Microsoft Reports amid Anticipation of Fed Policy
The Index Today
On Wednesday, U.S. stock futures edged higher following a two-day period of rough trades. Bullish revenue reports from Microsoft helped inform the surge while investors look to the Fed for an update on upcoming interest rate hikes.
Microsoft Corp inched up by 3.9% during the premarket session. Texas Instruments Inc. soared by 4.6% after its forecast surpassed its current quarter earnings data.
The positive outlook from both companies spurred the rise of tech stocks with Alphabet, Microsoft Corp, Apple Inc., Amazon.com, Nvidia Corp, and Advanced Micro Devices soaring between 2.1% and 3.7%.
This comes in the wake of tech and growth stocks turning tumultuous due to tightening Fed policy aimed at countering pandemic-induced inflation. Increasing geopolitical tensions between Russia and Ukraine have also contributed to the period of turbulence.
©Photo: Financial Times