US stock futures held steady on Friday as investors processed earnings from major tech players and anticipated October’s jobs report. Wall Street’s main indices dipped Thursday, largely due to declines in Meta (NASDAQ
) and Microsoft (NASDAQ
). Although both companies exceeded earnings expectations, plans to increase AI investments have raised concerns about the impact on profit margins.
Apple & Amazon Performance
Apple reported strong Q4 results but projected modest revenue growth for Q1, with CEO Tim Cook highlighting positive feedback on the new AI-driven “Apple Intelligence.” Meanwhile, Amazon’s (NASDAQ
) earnings jumped, driven by 19% growth in AWS and booming AI demand. CEO Andy Jassy forecast continued, aggressive AI investment into 2025, with Amazon’s shares rising in premarket trading.
Jobs Report & Economic Indicators
Friday’s jobs report is expected to show a slowdown in hiring, with nonfarm payrolls estimated to dip from last month. Alongside strong private payroll data, this report will help shape expectations on Federal Reserve rate cuts and will be closely watched ahead of the upcoming presidential election.
Oil Prices Rally
Oil prices rose, trimming the week’s losses as geopolitical tensions intensified in the Middle East. Brent and WTI both climbed amid reports of potential conflict between Iran and Israel, while positive manufacturing data from China further supported oil demand.
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