Apple, Facebook drive Nasdaq futures higher as earnings
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[April 29, 2021] By
Shivani Kumaresan
(Reuters) - Nasdaq futures jumped 1% on
Thursday after stellar earnings from Apple and Facebook powered a rally
in tech stocks, while investors parsed another barrage of quarterly
reports ahead of GDP numbers and jobless claims data.
Apple Inc gained 2.7% in premarket trading after posting sales and
profits ahead of Wall Street estimates, led by much
stronger-than-expected iPhone and Mac sales.
Facebook Inc jumped 7.3% on beating analysts' expectations for both
quarterly revenue and profit, helped by a surge in digital ad spending
during the pandemic, along with higher ad prices.
Other megacap companies, including Microsoft Corp, Alphabet Inc and
Netflix Inc, rose between 0.2% and 1.1%.

Official data is likely to show that the number of Americans filing new
claims for jobless benefits rose last week, while the Commerce
Department is expected to report a 6.1% rise in first-quarter GDP.
More earnings reports from Dow components rolled in, with Caterpillar
Inc rising 2.8% after the heavy equipment maker reported a rise in
adjusted first-quarter profit. Drugmaker Merck & Co Inc, however, slid
3.2% on posting a 1.2% fall in quarterly profit.
Global shares extended gains after the Federal Reserve said it was too
early to consider rolling back emergency support for the economy, and
U.S. President Joe Biden proposed a $1.8 trillion stimulus package.
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A trader walks outside the New York Stock Exchange in New York City,
U.S., April 26, 2021. REUTERS/Shannon Stapleton

At the conclusion of the U.S. central bank's latest policy meeting on Wednesday,
Fed Chair Jerome Powell acknowledged the economy's growth, but said there was
not yet enough evidence of "substantial further progress" toward recovery to
warrant a change in policy.
At 6:44 a.m. ET, Dow e-minis were up 177 points, or 0.52%, S&P 500 e-minis were
up 30.25 points, or 0.72%, and Nasdaq 100 e-minis were up 138.75 points, or 1%.
Shares of electric vehicles companies, including Tesla Inc, Nikola Corp, rose
1.1% and 2.6%, respectively, as sales picked up speed in the first quarter,
according to the International Energy Agency.
Amazon.com Inc, Twitter Inc, Mastercard Inc and Gilead Sciences Inc are also
expected to report first-quarter earnings later in the day.
(Reporting by Shivani Kumaresan and Shreyashi Sanyal in Bengaluru; Editing by
Saumyadeb Chakrabarty)
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