The profit gods are playing with US stock markets. Yesterday there was a rout after Meta forecasts were slightly soft and investments were slightly high. Today, it’s the opposite after Google and Microsoft beat estimates.
Spoos
Alphabet shares are up 9.7% premarket while Microsoft shares are up 2.4%. The biggest riser is SNAP, which is up more than 30% and is usually a huge driver of earnings. In contrast, Intel shares are down 6%.
However, it’s the mega-caps that are driving futures, and S&P 500 futures reopened up 42 points, or 0.8%.
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