U.S. stock futures rallied on Friday morning, driven by impressive quarterly results reported by e-commerce and cloud computing giant Amazon (AMZN) and iPhone maker Apple (AAPL). Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 1.38%, 0.84%, and 0.18%, respectively, at 8:22 a.m. EDT on October 31.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
During Thursday’s regular trading session, all three major indexes closed lower amid concerns over Big Tech’s elevated capital spending on artificial intelligence (AI). The Nasdaq Composite fell 1.57%, while the S&P 500 and the Dow Jones were down 0.99% and 0.23%, respectively.
However, after the markets closed, Apple and Amazon reported solid earnings, boosting investor confidence in the technology sector.
Notably, Amazon stock rallied 12.5% in Friday’s pre-market trading after reporting a 20% increase in AWS revenue and beating Q3 expectations. Additionally, Apple stock was up more than 2% on strong quarterly earnings and a positive outlook for iPhone sales in the December quarter.
Additionally, Netflix (NFLX) stock rose about 2% in pre-market trading after the streaming giant announced a 10-for-one stock split, which would make shares more accessible to retail investors.
Meanwhile, Exxon Mobil (XOM) was down 1.5% as the energy giant reported mixed results for the third quarter of 2025 amid lower oil prices. In contrast, Chevron (CVX) trended modestly higher on Q3 earnings beat, with the Hess acquisition boosting production.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.