United States equity futures moved higher on Wednesday night (Thursday AEST) as investors digested the latest Big Tech earnings reports and the Federal Reserve’s decision to leave interest rates unchanged.
By 10:15 am AEST (12:15 am GMT) Dow futures were up 0.3%. S&P 500 futures advanced 0.4%, while Nasdaq 100 futures climbed 0.8%.
In extended trading, Meta Platforms shares fell 7.1% after the company reported earnings per share (EPS) of $6.18, below market expectations of $7.19. Revenue came in at $60.8 billion, compared with forecasts of $60.22 billion.
Microsoft shares jumped 8.2% after the company reported EPS of $4.74, beating expectations of $4.24, while revenue reached $90.01 billion against estimates of $87.62 billion.
Starbucks shares rose 4.6% after reporting EPS of $0.85, ahead of expectations of $0.66, while revenue came in at $9.32 billion compared with forecasts of $9.17 billion.
Qualcomm shares declined 3.5% after adjusted EPS came in at $2.21, slightly below expectations of $2.23, although revenue of $9.95 billion exceeded estimates of $9.69 billion.
During regular trading, the Dow Jones Industrial Average dropped 2.2%, marking its worst decline since April 2025. The S&P 500 fell 1.5%, while the Nasdaq Composite declined 1.7%.
Investors continued to assess the Federal Reserve’s decision to hold interest rates steady, which pushed longer-term Treasury yields higher.
The 30-year Treasury yield surged 10 basis points to above 5.2%, reaching its highest level since 2007.
Traders will focus on weekly jobless claims and the June personal consumption expenditures price index on Thursday.
Meanwhile, corporate earnings season continues, with Amazon, Apple and Coinbase scheduled to report after the market close.
