US Futures Climb as Traders Await Apple Results: Markets Wrap

(Bloomberg) — US stock futures gained as investors looked ahead to Apple Inc.’s results for the next test of resilience in the technology sector. 

Nasdaq 100 futures rose 0.6% and contracts on the S&P 500 added 0.4%. Apple is expected to post record results when the company delivers quarterly earnings later today. Tech stocks continued to power ahead in premarket trading, with International Business Machines Corp. jumping 8% and Meta Platforms Inc. rising on hopes for future artificial intelligence gains. Tesla Inc. climbed as much as 4.1% amid investor optimism about the company’s robotaxi business and AI prospects.   

The technological arms race has defined global markets this week, with Chinese startup DeepSeek claiming to have made significant progress on its AI model at a fraction of the price. That put a question mark over the spending and investment plans of Silicon Valley firms in the runup to the earnings announcements, sparking a market slump on Monday.

Microsoft Corp. shares bucked the upbeat mood, falling 3.9% in early trading, as the firm struggles to build enough data centers to handle AI demand.

The yield on 10-year US Treasuries was down two basis points at 4.50% after the Federal Reserve left interest rates unchanged yesterday, adopting a “wait and see” approach with inflation still above the 2% target.

Now attention turns to the European Central Bank, which is expected to cut rates by a quarter-point later Thursday to revive the sluggish eurozone economy. European government bonds gained after gross domestic product figures came in weaker than expected for Germany and France. 

ECB Cut All But Certain With Price Goal in View: Decision Guide

“The divergence trade is alive and well with a widening gap between European and US growth expectations that has translated into a much more dovish outlook for the ECB relative to the Fed,” said Daniel Murray, Zurich-based chief executive officer of EFG Asset Management.  

In currencies, the yen gained as much as 0.6% against the dollar as fast money traders lined up bets on the currency, according to an Asia-based FX trader. 

 

Key events this week:

• Eurozone ECB rate decision, consumer confidence, unemployment, GDP, Thursday
• US GDP, jobless claims, Thursday
• Apple, Deutsche Bank earnings, Thursday
• US personal income & spending, PCE inflation, employment cost index, Friday

Some of the main moves in markets: 

Stocks

• S&P 500 futures rose 0.4% as of 6:41 a.m. New York time
• Nasdaq 100 futures rose 0.7%
• Futures on the Dow Jones Industrial Average rose 0.3%
• The Stoxx Europe 600 rose 0.6%
• The MSCI World Index was little changed

Currencies

• The Bloomberg Dollar Spot Index was little changed
• The euro fell 0.2% to $1.0400
• The British pound fell 0.1% to $1.2437
• The Japanese yen rose 0.5% to 154.45 per dollar

Cryptocurrencies

• Bitcoin rose 1.5% to $105,326.53
• Ether rose 2.7% to $3,225.06

Bonds

• The yield on 10-year Treasuries declined three basis points to 4.50%
• Germany’s 10-year yield declined seven basis points to 2.52%
• Britain’s 10-year yield declined seven basis points to 4.55%

Commodities

• West Texas Intermediate crude was little changed
• Spot gold rose 0.7% to $2,778.81 an ounce

This story was produced with the assistance of Bloomberg Automation.

–With assistance from Matthew Burgess, Winnie Hsu, Richard Henderson and Divya Patil.

©2025 Bloomberg L.P.