Dow Jones Futures Rise As Amazon Soars Following an Increasing Market Correction
S&P 500 futures, Nasdaq futures in particular, and Dow Jones futures all increased on Friday morning. After the close, the main story in earnings was Amazon.com (AMZN).
Thursday saw an acceleration of the stock market correction, with the Nasdaq plunging below its 200-day moving average.
Although the indexes did break through intraday lows, the gain was short-lived.
Titans of tech led the downturn. Meta Platforms (META) expressed apprehension regarding advertising.
That also hurt the stock of AMZN going into results and Google parent Alphabet (GOOGL), Wednesday's biggest loser.
Meta's lower-than-anticipated capital spending plans have impacted major tech companies like Arista Networks (ANET) and Nvidia (NVDA). Tesla (TSLA) closed even lower below the 200-day line after Apple (AAPL) breached it.
On Thursday, even Microsoft (MSFT), which had posted impressive earnings on Wednesday, gave up all of those gains.
In extended trading, Amazon's stock increased by 6%. The massive cloud and e-commerce company posted better-than-expected sales and earnings, but its Q4 revenue forecast was a little optimistic.