US stock futures rallied on Friday, recovering losses from the previous session on the back of strong earnings from mega-cap tech names Alphabet and Microsoft. In extended trading, Google-parent Alphabet surged 12% on better-than-expected first-quarter earnings, the authorization of its first even dividend and a $70 billion buyback. Microsoft also popped 5% on upbeat quarterly results and artificial intelligence-related boost. In regular trading on Thursday, the Dow fell 0.98%, the S&P 500 dropped 0.46% and the Nasdaq Composite tumbled 0.64%. Those losses came as latest data showed that the US economy slowed down sharply and pointed to persistent inflation. In addition to the economic data, disappointing earnings reports from companies like Meta Platforms and IBM also weighed on sentiment. Meta's stock dropped 10.5% after issuing a weak revenue outlook, despite reporting better-than-expected first-quarter results. IBM also declined 8.2% following a revenue miss.
The main stock market index in the United States (US500) increased 312 points or 6.54% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from United States. Historically, the United States Stock Market Index reached an all time high of 5268 in March of 2024. United States Stock Market Index - data, forecasts, historical chart - was last updated on April 26 of 2024.
The main stock market index in the United States (US500) increased 312 points or 6.54% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks this benchmark index from United States. The United States Stock Market Index is expected to trade at 5173.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4883.08 in 12 months time.