US stocks bounced back ahead of a key employment report from the Bureau of Labor Statistics and after two days of losses following America’s credit downgrade.
Dow futures were up 85 points, or 0.2%. S&P 500 futures rose 0.5%. Nasdaq futures were 0.7% higher.
Stocks began to sell off Wednesday after Fitch Ratings downgraded US credit. But momentum slowed late Thursday, as investors began to turn their attention to the latest batch of second-quarter earnings data.
Some Big Tech earnings came in after the bell Thursday, with Apple’s revenue slipping 1% to $81.8 billion for its quarter ending July 1, marking the third consecutive year-over-year drop in quarterly revenue for the world’s most valuable company.
Amazon said sales boomed on strong demand in the second quarter, fueling a massive jump in profit from a year ago.
Sales grew 11% to $134.4 billion, an increase from $121.2 billion in the second quarter of 2022. The stock surged 7% in after-hours trading.
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