U.S. stock futures went up on Friday, helped by strong earnings from major tech companies. This rise happened right before important inflation data is set to be released. Here are some of the biggest U.S. stock movers in premarket trading today:
| Company | Ticker | Change | Results |
|---|---|---|---|
| Microsoft | MSFT | +4% | Fiscal third-quarter results topped expectations; Azure business showed momentum. |
| Alphabet | GOOGL | +11% | First-quarter results topped estimates; issued first-ever dividend and $70 billion buyback; Earnings of $1.89 per share, Revenue of $80.54 billion. |
| Snap | SNAP | +22% | First-quarter results exceeded expectations; Revenue rose 21% to $1.19 billion. |
| Intel | INTC | -8% | First-quarter financial results mixed; adjusted EPS of 18 cents, sales of $12.72 billion; weak forecast for current quarter. |
| Exxon Mobil | XOM | -2% | First-quarter earnings of $2.06 per share; Revenue of $83.08 billion. |
| Chevron | CVX | -0.4% | First-quarter revenue of $48.72 billion; earnings of $2.93 per share. |
| AutoNation | AN | +1% | First-quarter earnings of $4.49 per share; Revenue of $6.49 billion. |
| AbbVie | ABBV | +1% | First-quarter adjusted EPS of $2.31 on $12.31 billion revenue; raised full-year earnings forecast. |
| Colgate-Palmolive | CL | +1% | Quarterly adjusted EPS of 86 cents; Revenue of $5.07 billion. |
| Charter Communications | CHTR | -3.4% | Earnings of $7.55 per share on $13.68 billion revenue. |
Upcoming PCE Data
Economists are anticipating mixed results for the March personal consumption expenditures (PCE) price index, a key indicator of U.S. inflation that may influence the Federal Reserve's decisions regarding potential interest rate cuts this year. The general expectation is for the monthly rate to stay consistent at 0.3%, while the year-over-year rate might slightly increase to 2.6% from February's 2.5%.
The so-called "core" PCE, which excludes volatile items such as food and fuel, is expected to match February's monthly rate of 0.3%. On an annual basis, it is projected to slow to 2.6% from the prior 2.8%.
