The earnings-gods are toying with US equity markets. Yesterday was a rout after Meta’s guidance was slightly soft and capex was slightly high. Today it’s the reverse after Google and Microsoft beat estimates.
Spoos
Shares of Alphabet are up 9.7% in the premarket while Microsoft is up 2.4%. The biggest riser is SNAP, which is up more than 30% and is a habitual huge mover on earnings. On the downside, shares of Intel are down 6%.
However the megacap names are the ones driving futures and S&P 500 futures reopened up 42 points, or 0.8%.