United States stock futures edged higher in overnight trading on Thursday (Friday AEST) as Wall Street looked set to finish the week in positive territory despite ongoing market volatility tied to geopolitical tensions and shifting interest rate expectations.
By 10:40 am AEST (12:40 am GMT), Dow futures were up 0.2%, S&P 500 futures gained 0.3%, while Nasdaq 100 futures advanced 0.5%.
Investor sentiment was supported by another round of upbeat corporate earnings released after the closing bell.
Workday surged 11.1% in after-hours trading after reporting stronger-than-expected quarterly results and lifting its full-year margin outlook. The software company posted earnings per share (EPS) of $2.66, ahead of expectations for $2.51, on revenue of $2.54 billion compared with forecasts of $2.52 billion.
Discount retailer Ross Stores climbed 5.7% after delivering quarterly earnings and revenue that topped analyst estimates. The company reported EPS of $2.02 versus expectations of $1.73, while revenue came in at $6.01 billion compared with forecasts of $5.64 billion.
Zoom Communications gained 8.2% after reporting EPS of $1.55, exceeding estimates of $1.42. Revenue totalled $1.24 billion, also above expectations of $1.22 billion.
Video game publisher Take-Two Interactive rose 6.1% after narrowly beating revenue forecasts. The company reported EPS of $0.80 compared with expectations of $0.56, while revenue reached $1.58 billion against estimates of $1.55 billion.
Take-Two also confirmed that Grand Theft Auto VI remains on track for a November launch.
Mining company Perpetua Resources jumped 9.8% after securing a US$2.9 billion loan from the U.S. Export-Import Bank. The financing will support development of the company’s Stibnite Gold project in Idaho, which is also expected to produce antimony, a critical mineral used in munitions and semiconductor manufacturing.
Estee Lauder Companies rallied almost 10.6% after the cosmetics group and Spain-based Puig confirmed they had ended discussions regarding a potential merger.
Markets were also supported by falling oil prices amid hopes for progress in Middle East peace negotiations.
West Texas Intermediate crude futures fell nearly 2% to settle at $96.35 a barrel, while Brent crude declined more than 2% to finish at $102.58 a barrel.
For the week so far, the Dow Jones Industrial Average has gained 1.5%, while the S&P 500 has added 0.5% and the Nasdaq Composite has risen 0.3%.
Investors are also awaiting developments at the U.S. Federal Reserve, with President Donald Trump expected to swear in Kevin Warsh as the next Federal Reserve chair on Friday, succeeding Jerome Powell.
