Forex
US Stocks Soar on Microsoft Earnings and Hawkish Fed Pivot
US stock futures rebounded strongly on Wednesday, propelled by blockbuster earnings from Microsoft and Lam Research, combined with a less hawkish stance from the Federal Reserve.
The S&P 500 futures gained 1.6%, while Dow Jones futures added 1.1%.
Nasdaq 100 futures surged 3.4% as capital rotated heavily out of value and defensive names into tech and semiconductors, which saw a +5.5% sector gain.
The AI trade was reignited by stellar results from Microsoft, driven by 43% Azure growth, lifting the broader SaaS and chipmaker ecosystem.