Futures Climb With Boost From Microsoft’s Surging Cloud Growth

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessFutures Climb With Boost From Microsoft's Surging Cloud GrowthUS futures rose on Thursday as Microsoft Corp. jumped 9.8% after reporting the fastest cloud unit growth in four years. Top semiconductor companies, like Micron Technology Inc. and Nvidia Corp., rallied as well.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.8v28725[n([7t2(5633rhka{_media_dl_1.png Bloomberg(Bloomberg) — US futures rose on Thursday as Microsoft Corp. jumped 9.8% after reporting the fastest cloud unit growth in four years. Top semiconductor companies, like Micron Technology Inc. and Nvidia Corp., rallied as well.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountS&P 500 futures were 0.6% higher as of 7:17 a.m. in New York, with Nasdaq 100 contracts up 1.3%, recovering after the tech-dominated Nasdaq 100 closed in correction territory on Wednesday and the broader S&P 500 Index fell 1.5%.“The recent news of hyperscalers’ strong June-quarter earnings and future AI data center projects implies only good things for semiconductor demand,” Yardeni Research’s Ed Yardeni wrote in a Thursday note.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againNext up on the earnings front: Apple Inc. and Amazon.com Inc. report after the bell. Apple is this year’s Big Tech stock market star, reclaiming the title of the world’s biggest company with a 24% rally in 2026. Only Apple and Nvidia Corp.’s market capitalizations top $5 trillion. In other earnings news, Meta Platforms Inc. fell 8.6% after reporting free cash flow fell to the lowest level since 2022, while raising the low end of its year forecasts for both capital expenditures and total expenses, adding to concerns about when spending on AI will translate into better growth. Qualcomm Inc. shed 4.9% after issuing a weak profit forecast.Investors also continue to digest Federal Reserve Chairman Kevin Warsh’s second press conference on Wednesday afternoon.“It’s hard to know what to make of Warsh’s remarks, which involved a lot of well-turned phrases but little in the way of a coherent macro view,” JPMorgan economist Michael Feroli wrote in a note. “He once again failed to specify how he intended to achieve his stridently-asserted inflation resolve. He also cast doubt on whether PCE inflation will remain the Fed’s inflation target in the medium run. Both of these points raise questions about the new chair’s credibility.”Feroli pulled his expectation for the next interest-rate hike forward to December from the second half of 2027, adding that “September is clearly a risk if inflation heats up.”Meantime, oil slipped less than 1%, with West Texas Intermediate crude around $84 a barrel. “Energy prices are emerging as a key market risk,” Sameer Samana, Wells Fargo Investment Institute, head of Global Equities and Real Assets, wrote. “Higher gasoline and diesel prices could sustain inflation pressures and push interest rates higher.”Restaurants, as two of the largest, Starbucks Corp. and Chipotle Mexican Grill Inc., both raised guidance after stronger-than-expected quarters. —With assistance from Ryan Vlastelica.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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