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Dow futures lift, Microsoft and Alphabet gain after results

Published 04/25/2023, 08:40 PM
© Reuters.
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Investing.com - U.S. stock futures were trading higher during Tuesday's evening trade, with market participants closely monitoring fresh earnings results from major tech companies following a negative session among major benchmark averages.

By 19:00 ET (23:00 GMT) Dow Jones futures were up 0.1%, S&P 500 futures lifted 0.4%, and Nasdaq 100 futures popped 1.2%.

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In extended deals, Microsoft (NASDAQ:MSFT) added 8.6% after reporting Q3 EPS of $2.45, versus $2.24 expected, with revenue coming in at $52.9 billion versus $51.12B expected. The company also posted a spike in revenue from its Intelligent Cloud business.

Alphabet (NASDAQ:GOOGL) gained 1.3%, reporting a profit in its cloud business for the first time, with Q1 EPS coming in at $1.17 versus $1.08 expected on revenues of $69.8B versus $68.87B expected.

Enphase Energy (NASDAQ:ENPH) shed 15.8% after the company reported Q1 EPS of $1.37 versus $1.21 expected on revenues of $726 million versus $719.28M expected.

Visa (NYSE:V) gained 0.8% reporting Q2 EPS of $2.09 versus $1.99 expected on revenues of $8B versus the consensus estimate of $7.8B.

Ahead in Wednesday's session, investors will be closely monitoring core durable goods orders and goods trade balance data as well as a fresh batch of earnings results from companies including Meta Platforms Inc (NASDAQ:META), Bank of America Corp (NYSE:BAC), CME Group Inc (NASDAQ:CME), Hilton Worldwide Holdings Inc (NYSE:HLT), and Spirit Airlines Inc (NYSE:SAVE).

During Tuesday's regular trading, the Dow Jones Industrial Average lost 344.6 points or 1% to 33,530.8, the S&P 500 fell 65.4 points or 1.6% to 4,071.6, and the Nasdaq Composite dropped 238.1 points or 2% to 11,799.2.

On the bond markets, United States 10-Year rates were at 3.4%.

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