Stocks are set to jump Friday after four tech giants post strong earnings, Nasdaq futures gain 1%


Saul Loeb | AFP | Getty Images

Stock futures jumped on Thursday night, priming Wall Street to end the week on a high note as some of the biggest tech stocks — Facebook, AmazonAlphabet and Apple — reported quarterly results that beat high expectations. 

Nasdaq 100 futures traded 1.2% higher. Dow Jones Industrial Average futures gained 237 points, or 0.9%. S&P 500 futures climbed 0.8%.

Apple reported a blowout quarter, with overall sales expanding by 11%. Apple also announced a 4-for-1 stock split

“Apple’s earnings report was breathtaking,” said Andrew Smith, chief investment strategist, Delos Capital Advisors. “Double-digit revenue growth during a quarter which saw most of the U.S. economy shutdown is remarkable. This earnings report shows that Apple is firing on all cylinders. Apple’s stock crossed the symbolic $400 a share threshold in after-hours trading, boosted by a four-for-one stock split, which was icing on the cake for investors.”

Amazon, meanwhile, traded 5.3% higher as the company saw its sales skyrocket during the coronavirus pandemic. Facebook shares rallied more than 7%…

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Alphabet (GOOGL) earnings Q2 2020

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