Nasdaq futures edged higher Thursday morning, even as Apple shares slid in premarket trading. The tech-heavy index pointed to a modest rebound following Wednesday’s mixed session. Investors weighed fresh earnings reports and economic data ahead of the opening bell.
Apple dropped more than 2% in premarket action after the company reported quarterly results that missed analyst expectations on iPhone sales. The weakness dragged on the broader market’s early tone, though other large-cap tech names offered some support.
Amazon climbed 10% in premarket trading, extending a recent rally. The e-commerce giant posted stronger-than-expected profit and revenue, driven by growth in its cloud computing and advertising segments. The gains helped offset some of the losses from Apple.
Dow futures pointed to a slight decline, while S&P 500 futures hovered near flat. Investors showed caution as they digested a fresh batch of corporate earnings and a key inflation reading. The data offered mixed signals on the health of the consumer and the pace of price increases.
Treasury yields moved lower following the inflation report, which came in below consensus estimates. That gave some relief to rate-sensitive sectors, including real estate and utilities. However, financial stocks struggled as banks faced pressure from thinner interest margins.
Oil prices remained volatile, with Brent crude trading lower on concerns about global demand. Energy shares followed suit, dragging on the Dow. Meanwhile, small-cap stocks outperformed, suggesting some appetite for risk beyond mega-cap technology.
Market strategists noted that the divergence between Apple and Amazon highlighted the uneven nature of this earnings season. Companies tied to consumer spending have delivered mixed results, while those benefiting from digital infrastructure and enterprise demand have generally fared better.
Traders now look ahead to Friday’s jobs report for further clues on the Federal Reserve’s next policy move. A softer labor market could reinforce expectations for rate cuts later this year. Until then, stock moves are likely to stay driven by individual earnings stories and macroeconomic headlines.
