S&P 500 futures ticked higher on Tuesday night, lifted by Alphabet’s Q3 earnings report, which exceeded market expectations, and the anticipation of further tech company results.
By 9:25 am AEDT, Dow and Nasdaq futures had each gained 0.1%, while S&P 500 futures rose by 0.2%.
In after-hours trading, Reddit shares spiked 23.8% following better-than-expected Q3 results and a promising outlook.
Alphabet, the parent company of Google, surged 5.7% after reporting earnings per share of $2.12 and revenue of US$88.27 billion, beating market expectations.
Snap, parent of Snapchat, climbed 9.5% after surpassing estimates on both earnings and revenue.
Visa shares rose 1.7%, bolstered by a quarterly dividend increase and Q4 results that exceeded expectations.
Meanwhile, AMD dropped 7.5% as its gaming and embedded segments reported notable year-over-year revenue declines.
Chipotle also slid 4.9% after missing Q3 revenue projections by $30 million, although per-share earnings beat by $0.02.
Investors will be closely monitoring further earnings, with Meta Platforms and Microsoft set to release to report on Wednesday (Thursday AEDT) and Apple and Amazon following on Thursday (Friday AEDT).
Investors are also focused on economic indicators, with the preliminary U.S. GDP report due Wednesday. Analysts expect GDP to show 3% annualised growth rate in Q3, in line with the previous quarter.
If accurate, this would mark the 10th consecutive quarter of expansion, with inflation possibly approaching or falling below the Federal Reserve’s 2% target.
In regular trading on Tuesday, the Nasdaq Composite hit a new record, advancing 0.8%. The S&P 500 gained 0.2%, while the Dow Jones Industrial Average lagged, dipping 0.4%.