- Nasdaq futures edged higher in overnight trading Thursday after Wall Street staged a sharp rebound.
- Amazon surged more than 9% in extended trading after second-quarter revenue, aided by the strength of its cloud-computing business.
- Despite the week's sharp swings, the major averages remained on track to finish higher, with the Dow up about 0.5% for the week.
Microsoft's stock surged 16% after reporting stronger-than-expected growth in its Azure cloud services, which significantly contributed to a broader market rally on Wall Street.1
Nasdaq futures rose in overnight trading, reflecting optimism following the powerful rebound during Thursday's regular session.
Amazon's shares jumped over 9% in extended trading after the company announced robust second-quarter revenue, driven by its cloud-computing business. This surge in Amazon's stock reinforced investor confidence in artificial intelligence spending, a sector that continues to attract significant investment.23
Despite the week's volatility, analysts noted that the major averages remained on track to finish higher, indicating a resilient market sentiment.
The strong performance of tech stocks, particularly Microsoft and Amazon, highlights the ongoing recovery in the sector, as investors remain optimistic about future growth prospects fueled by advancements in cloud technology and AI.
“Despite recent volatility, major averages are on track to finish higher, with the Dow up about 0.5% for the week. Amazon's strong second-quarter revenue, bolstered by its cloud-computing business, has reinforced investor confidence in artificial intelligence spending.”
CNBC
