US stock futures edged higher on Wednesday morning, extending momentum after benchmark indexes closed at fresh record highs during the previous trading session.

Futures tied to the S&P 500 (ES=F) rose about 0.3%, while Nasdaq 100 futures (NQ=F) climbed 0.8%, News.Az reports, citing Yahoo Finance.

Contracts linked to the Dow Jones Industrial Average (YM=F) were up 0.1%.

After-hours trading was dominated by strong moves in major technology stocks. Advanced Micro Devices (AMD) surged nearly 15% after beating earnings expectations and issuing an upbeat forecast for the second quarter. Super Micro Computer (SMCI) also rallied 18% following stronger-than-expected fiscal fourth-quarter guidance.

In Tuesday’s regular session, the S&P 500 (^GSPC) advanced 0.8% and the Nasdaq Composite (^IXIC) rose 1%, with both indices closing at record highs. The Dow Jones Industrial Average (^DJI) gained 0.7% during the same session.

Investor sentiment has remained positive amid a steady stream of strong corporate earnings. Around 85% of S&P 500 companies that have reported so far have beaten profit expectations, while approximately 77% have delivered revenue results above forecasts.

Market attention has also turned to labor data this week. The JOLTS report was released on Tuesday, while Wednesday will bring the ADP private payrolls report. On Thursday, April’s layoff announcement data from Challenger, Gray & Christmas is expected.

Looking ahead, several major companies are set to report earnings before the market opens on Wednesday, including Novo Nordisk (NVO), The Walt Disney Company (DIS), and Uber (UBER).

News.Az 

By Nijat Babayev