U.S. stock futures were firmer in premarket trading on Thursday, with gains concentrated in large technology companies even as recent oil volatility eased from a sharp surge to four-year highs. By 07:32 ET (11:32 GMT), Dow futures were up roughly 296 points, or about 0.6%, S&P 500 futures had gained near 27 points, or 0.4%, and Nasdaq 100 futures were higher by approximately 149 points, or 0.5%.
Investors were digesting quarterly reports from several household-name companies, with technology and cloud revenue trends driving a number of the premarket moves.
Tech movers
Alphabet, the parent of Google, climbed in extended trading after reporting cloud-sales growth that exceeded expectations.
Amazon also rose, helped by stronger-than-expected expansion at Amazon Web Services, which saw its largest revenue increase since 2022.
Microsoft's cloud revenue largely matched forecasts, and while the company guided for an acceleration in the second half of the year, its shares were trading lower before the market opened.
Meta Platforms fell sharply, dropping more than 9% after the company raised its planned capital expenditures for 2026 by $20 billion to a range of $125 billion to $145 billion.
Healthcare, financials and alternatives
AbbVie gained after BofA Global Research upgraded the drugmaker from "neutral" to "buy," citing concerns about competitive pressures that the bank now views as overblown.
Blue Owl Capital advanced on the back of stronger fee-related earnings and assets, despite recent negative sentiment toward private credit more broadly.
Autos, industrials and consumer-facing names
Carvana reported first-quarter revenue above estimates, driven by used-vehicle volumes that rose to a record high for the company.
Caterpillar edged higher after reporting adjusted first-quarter earnings per share that topped expectations.
Ford shares declined after the automaker's first-quarter results were overshadowed by guidance that Citi analysts described as weak.
Stellantis's U.S.-listed shares fell following first-quarter results that showed disappointing returns in North America.
Energy sector reaction
Refiner PBF Energy dipped in premarket trade after reporting a first-quarter loss per share that was larger than analysts had expected. The wider-than-anticipated loss reflected mark-to-market derivative losses the company recorded, which were tied to the recent choppy movement in commodity prices.
Overall, the premarket session painted a mixed picture: strong cloud and technology revenue trends supported futures, while weakness in auto guidance, increased capital spending at a major social-media company, and commodity-driven losses at a refiner underlined ongoing pockets of risk across sectors.