US futures continue to hold up in European morning trade

It is mostly tech shares leading the charge though with Nasdaq futures marked up by 1.4% currently. The late rebound yesterday was certainly intriguing but it’s been followed up with some better earnings releases from Meta and Microsoft. Dip buyers are continuing to hold the line with the S&P 500 looking to build on last week’s push above 5,500. Some relevant headlines in case you missed them:

• US Q1 advance GDP -0.3% vs +0.3% expected
• The market sees more Fed rate cuts after the weak US GDP but it could be wrong
• US recently reached out to China for tariff talks – report
• Meta EPS $6.43 versus $5.21 estimate. Revenues $42.31B versus $41.36B estimate
• Microsoft earnings beat expectations

This article was written by Justin Low at www.forexlive.com.