U.S. stock futures are trending higher as investors react positively to a strong batch of quarterly corporate earnings, particularly from tech giants Amazon and Apple.

Amazon’s stock surged nearly 13% in premarket trading after reporting its cloud unit, Amazon Web Services (AWS), achieved its fastest growth in nearly three years.

Similarly, Apple climbed almost 2% after topping revenue expectations and issuing an upbeat forecast for the critical holiday quarter.

The positive tech news has lifted the broader market, with the Nasdaq 100 futures gaining 1.4% and the S&P 500 futures up 0.7%.

The Dow Jones is also on track for its sixth consecutive monthly gain, its longest such streak since 2018.

The tech sector’s performance comes despite global investor uncertainty stemming from recent U.S. Federal Reserve rate cuts and ongoing U.S.-China trade negotiations.

Source: Times of India