Before the Bell: Nasdaq Soars as Big Tech Earnings Fuel AI Hype

Nasdaq futures are surging after results and spending plans from Meta and Microsoft confirmed the AI trade is here to stay. That’s helping traders overlook Trump’s last-minute tariff curveballs and a more hawkish tone from Fed Chair Powell. Brace for another busy session, with Apple and Amazon reporting and core PCE data for June due.

S&P 500 futures were 1% higher as of 5:25 am in New York, while Nasdaq 100 contracts were +1.4%, putting the index on track for another record. Analysts said that Meta capex may reach $100b next year — an eye-popping 45% increase on this year’s ...