S&P 500 Futures Jump 1% on Strong Tech Earnings and Fed Easing Hopes

S&P 500 index futures extended gains to 1% on Thursday, with prices hitting 6460.53 points, driven by strong quarterly earnings from tech giants Microsoft and Meta [1]. The move came amid a broader market rally fueled by optimism over recent economic data and easing inflation concerns. Nasdaq 100 futures surged nearly 1%, outpacing the 0.1% rise in Dow Jones Industrial Average futures [1].

The positive momentum was also supported by the latest U.S. JOLTs employment report, which showed a stable labor market without signs of a sharp policy tightening from the Federal Reserve. This eased fears of aggressive rate hikes and contributed to a more optimistic investor sentiment ahead of the Fed’s upcoming policy meeting [2]. Market participants are closely watching for any indication that the central bank may adopt a more accommodative stance.

Large-cap technology stocks, particularly Microsoft and Meta, played a pivotal role in the rally. Both firms, key components of the S&P 500 and Nasdaq 100, posted stronger-than-expected quarterly results, pushing their stock prices higher and boosting overall index performance [1]. The S&P 500 had already reached record highs earlier in the week, signaling a potential sustained bull market [3].

However, not all signals were aligned. On Tuesday, the S&P 500 closed in the red due to stalled trade discussions with China, introducing some uncertainty ahead of the Fed's rate decision. That pressure dissipated in subsequent sessions, with futures rebounding sharply as investors began to anticipate a more dovish central bank approach [4].

The rally also benefited from improved global risk appetite. The U.S. dollar remained relatively stable after an initial rise, while regional markets showed mixed reactions. The Topix index in Japan gained 0.7%, while the S&P/ASX 200 in Australia fell 0.2%, reflecting differing economic expectations in the Asia-Pacific region [5].

Analysts attribute the recent rise in S&P 500 futures to a combination of strong corporate earnings and a more favorable macroeconomic outlook. With the Federal Reserve poised to release its next policy decision, investors are on high alert for clues that could shape future interest rate expectations and, in turn, influence stock valuations [6].

Source:

[1] NBC, [https://www.nbcdfw.com/news/business/money-report/sp-500-futures-rise-after-meta-and-microsoft-post-quarterly-beats-live-updates/3897429/](https://www.nbcdfw.com/news/business/money-report/sp-500-futures-rise-after-meta-and-microsoft-post-quarterly-beats-live-updates/3897429/)

[2] Yahoo, [https://finance.yahoo.com/news/p-futures-gain-focus-u-100354844.html](https://finance.yahoo.com/news/p-futures-gain-focus-u-100354844.html)

[3] Swissinfo, [https://www.swissinfo.ch/eng/s%26p-500-futures-gain-with-data-in-focus-before-fed%3A-markets-wrap/89751406](https://www.swissinfo.ch/eng/s%26p-500-futures-gain-with-data-in-focus-before-fed%3A-markets-wrap/89751406)

[4] CNBC, [https://www.cnbc.com/2025/07/28/stock-market-today-live-updates.html](https://www.cnbc.com/2025/07/28/stock-market-today-live-updates.html)

[5] Swissinfo, [https://www.swissinfo.ch/eng/us-stock-futures-advance-on-tech%2C-yen-gains-on-boj%3A-markets-wrap/89762217](https://www.swissinfo.ch/eng/us-stock-futures-advance-on-tech%2C-yen-gains-on-boj%3A-markets-wrap/89762217)

[6] ig.com, [https://www.ig.com/uk/news-and-trade-ideas/us-indices-reach-fresh-highs-as-trade-deal-calms-nerves-250729](https://www.ig.com/uk/news-and-trade-ideas/us-indices-reach-fresh-highs-as-trade-deal-calms-nerves-250729)