US Stocks Surge on Strong Tech Earnings Amid Selective Recovery

The US stock market has continued its rally on strong tech earnings, driven by upbeat quarterly results. The Nasdaq-100 futures advanced 1.2% after rallying 3.36% in the previous session.

Futures tied to the Dow Jones Industrial Average and the S&P 500 also gained 0.6% and 0.5%, respectively. Technology stocks led Wall Street higher, with gains concentrated in companies that delivered earnings beats rather than across the broader technology sector.

Amazon shares surged 13% in pre-market trading after its better-than-expected quarterly results. In contrast, Apple tumbled 7% following disappointing earnings.

The Nasdaq-100 remains on track to end July with a decline of more than 7%, marking its biggest monthly drop in over a year. The Dow Jones and S&P 500 are also poised to end the month modestly lower.