US stock futures rise after big tech earnings crush the Street

  • Amazon, Microsoft, Alphabet and Intel all reported earnings that topped Wall Street estimates Thursday after the close.
  • Shares of Amazon rose 8.2 percent in the premarket, while Microsoft, Alphabet and Intel rose 6.8 percent, 4.3 percent and 4.5 percent, respectively.

U.S. stock index futures pointed to a higher open Friday after the release of stronger-than-expected earnings from large-cap tech companies.

Dow Jones industrial average futures rose 6 points, while S&P 500 and Nasdaq 100 futures gained 3.75 points and 42.50 points, respectively.

Amazon, Microsoft, Alphabet and Intel all reported earnings that topped Wall Street estimates Thursday after the close. Shares of Amazon rose 8.2 percent in the premarket, while Microsoft, Alphabet and Intel rose 6.8 percent, 4.3 percent and 4.5 percent, respectively.

On the final trading day of the week, corporate earnings continued to pour in, with several key brands releasing their latest financial reports.

Chevron Corp. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Feb. 27, 2017.
Michael Nagle | Bloomberg | Getty Images
Chevron Corp. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Feb. 27, 2017.

AbbVie, Chevron, Colgate-Palmolive, ExxonMobil, Merck, Phillips 66 and TransUnion were among the companies that reported ahead of the opening bell.

On the data front, the first reading on third-quarter GDP showed the U.S. economy grew by 3 percent, above an estimate of 2.5 percent.

Elsewhere, consumer sentiment data is expected to be released around 10 a.m. ET.

In central banking news, the European Central Bank announced Thursday that it plans on cutting the level of the bonds that it purchases each month. However, it will extend the monetary stimulus program until at least September 2018.

Meantime, a few House Republicans sent a letter to President Donald Trump, calling upon him not to reappoint Janet Yellen as chair of the Federal Reserve when her term expires in early 2018.

In politics, the House narrowly voted to approve a Senate version of next year's federal budget Thursday, making it easier for the Senate to push through tax cuts in the future.

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Looking to energy, oil prices were under slight pressure in early trade, with U.S. crude trading around $52.39 at 6:52 a.m. ET, while Brent hovered around $58.93 per barrel.

Overseas, European stocks were posting gains during its morning trade, while markets in Asia finished mostly higher. In the previous session, U.S. stocks finished on a positive note, following the latest cluster of corporate earnings.

—CNBC's Jeff Cox and Christina Wilkie contributed to this report.