U.S. stock futures indicated a positive start on Friday, May 2, 2025, as investors awaited the April jobs report. The Dow Jones, S&P 500, and Nasdaq were all trading higher.
Tech stocks led the rally, fueled by strong earnings from Meta and Microsoft. However, Apple and Amazon faced pressure due to rising tariffs and weaker profit outlooks, respectively.
Dow Jones futures rose 0.4%, while S&P 500 and Nasdaq futures increased 0.4% and 0.2%, respectively. The S&P 500 closed at 5,604.14 on Thursday, gaining 0.6% for its eighth straight day of gains.
Meta Platforms' Q1 earnings beat estimates by 23%, sending the stock up over 9%. Microsoft's EPS also exceeded expectations, with shares rising 7.6%.
Apple fell 4% after CEO Tim Cook warned of a $900 million hit due to tariffs. Amazon's stock slipped 2% despite strong Q1 revenue, due to a weaker Q2 profit outlook.
Reddit's stock soared 7% after reporting a 60% jump in Q1 revenue and a strong Q2 outlook. Investors are closely monitoring the April jobs report for insights into the Federal Reserve's next move, according to the report from May 2, 2025.
The labor data will influence stock prices, bond yields, and Fed policy outlook. Attention will also turn to Fed officials' statements, inflation readings, and tariff tensions with China.