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Stock futures rose on Thursday as traders parsed through the latest batch of corporate earnings, while oil prices declined slightly.
Futures for the Dow Jones Industrials shot higher 338 points, or 0.7%, to 49,356.
Futures for the S&P 500 advanced 39 points, or 0.5%, to 7,207
Futures for the NASDAQ jumped 186.5 points, or 0.7%, to 27,511.75.
Caterpillar shares popped 6% on better-than-expected quarterly figures, boosting Dow futures.
Fellow Dow member Amazon fueled the advance as well, climbing more than 2% on the back of a blockbuster first-quarter report.
To be sure, S&P 500 and NASDAQ gains were kept in check as Meta Platforms and Microsoft lost 9% and 2%, respectively.
Meta shares were weighed by the company’s latest capital expenditures guidance, while user growth disappointed. Microsoft pulled after it said spending will reach $190 billion due to high memory costs.
Oil prices reversed course Thursday, with Brent crude futures losing 3% to trade above $114 a barrel and West Texas Intermediate futures falling 2% to trade above $104.
Crude prices rose Wednesday as overseas tensions remained high between the U.S. and Iran. The Wall Street Journal, citing U.S. officials, reported that President Donald Trump told his aides to prepare for an extended blockade of Iran.
In Japan, the Nikkei 225 returned from holiday to drop 1.1%, while in Hong Kong, the Hang Seng fell 1.3%
Oil prices faltered $2.08 to $104.80 U.S. a barrel.
Gold prices forged ahead $81.80 to $4,643.30 U.S an ounce.
