S&P futures exhibited an upward trend on Thursday as market participants considered the implications of earnings reports from significant technology companies alongside the recent decision by the Federal Reserve regarding interest rates. Futures associated with the S&P 500 experienced an increase of 0.1%. Futures for the Dow Jones Industrial Average increased by 27 points, representing a 0.1% rise. Futures for the Nasdaq 100 exhibited an increase of 0.2%. Spot gold exceeded the $5,500 threshold in overnight trading, with a recent increase of nearly 3%. The yellow metal, traditionally regarded as a safe haven, has been reaching new heights as the U.S. dollar persists in its decline. Meta Platforms experienced an 8% increase following the announcement of a first-quarter sales forecast that exceeded expectations.

Microsoft experienced a 6% decline in its shares, attributed to a deceleration in cloud growth during the fiscal second quarter, coupled with cautious guidance regarding operating margins for the fiscal third quarter. Tesla shares advanced 3% following the company’s fourth-quarter results, which exceeded expectations. In Wednesday’s session, the S&P 500 briefly surpassed the 7,000 threshold, yet ultimately concluded the day with minimal change following the Fed’s decision to maintain its benchmark interest rate within the range of 3.5% to 3.75%. The 30-stock Dow experienced a modest increase of 12 points. The tech-heavy Nasdaq Composite experienced an increase of approximately 0.2%, supported by gains in Nvidia and Micron Technology.

In its post-meeting statement, the policy-setting Federal Open Market Committee indicated that indicators suggest “economic activity has been expanding at a solid pace” and that the unemployment rate “has shown some signs of stabilization.” Nonetheless, the pricing of fed funds futures indicates an expectation of two quarter percentage point reductions by the conclusion of 2026, as per the report. “The Fed statement was largely as anticipated, and markets typically react to unexpected developments,” stated Sameer Samana. “We are observing earnings and economic data as potential catalysts for the next upward movement, yet we would not be taken aback by some volatility associated with the midterm elections in 2026.”

Investors are poised for Apple’s fiscal first quarter earnings report scheduled for Thursday after the market closes. Mastercard, Caterpillar, and Lockheed Martin are also scheduled to release their results. On the economic front, market participants will be monitoring weekly jobless claims, durable goods orders, and wholesale inventories.