Alphabet Nasdaq Jumps After Twitter Earnings Beat

Investing.com – U.S. futures jumped on Friday, as upbeat earnings from Alphabet (NASDAQ:GOOGL), Intel (NASDAQ:INTC), Starbucks (NASDAQ:SBUX) and Twitter (NYSE:TWTR) helped boost market sentiment.

Twitter gained 4.1% in premarket trading after it reported an 18% jump in revenue during the second quarter, with diluted earnings per share of $1.4q3 on net income of $1.1 billion.

Alphabet (NASDAQ:GOOGL), parent company of Google, rose 8.8% after its second-quarter earnings beat forecasts.

The company also announced a $25 billion stock buyback and played down fears of increased regulatory scrutiny.

Intel (NASDAQ:INTC) surged 4.9% after it increased its revenue forecast.

Nasdaq 100 futures rose 32 points or 0.4% by 7:05 AM ET (11:05 GMT).

Dow futures gained 80 points or 0.3% and S&P 500 futures were up 8 points or 0.3%.

Elsewhere on the earnings front, Starbucks (NASDAQ:SBUX) was set to open at a new all-time high, jumping 6.2% after posting its strongest comparable sales in three years.

By contrast, Amazon.com (NASDAQ:AMZN) fell 1.6% after its profit missed consensus.

It said income would slump in the third quarter due to increased spending on one-day delivery, raising the cost of sales.

McDonald’s (NYSE:MCD) is also in focus as it releases its results before the morning bell.

Meanwhile, Apple (NASDAQ:AAPL) inched up 0.3% after it confirmed it is purchasing Intel’s modem business in a deal valued at $1 billion.

Sprint (NYSE:S) gained 3.5% after reports that the Department of Justice is in talks with states to gain their approval for its merger with T-Mobile (NASDAQ:TMUS).

On the economic front, U.S. gross domestic product (GDP) is released at 8:30 AM ET (12:30 GMT).

The data are expected to show a slowdown in annualized growth to 1.8%, its slowest since 2017.

The numbers may also influence the Federal Reserve’s deliberations when it makes its monetary policy decision on July 31.

In commodities, crude oil gained 0.8% to $56.49 a barrel. Gold futures rose 0.3% to $1,418.65 a troy ounce.

The U.S. dollar index, which measures the greenback against a basket of six major currencies, hit a two-month high earlier in the day before edging back to 97.657.

According to investing

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Hassan Hadaoui
Hassan Hadaoui
Writer and Economist
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