Amazon and Apple ignite Wall Street: confidence and momentum return to global markets

Stronger-than-expected earnings from the two tech giants lift U.S. futures and rekindle investor optimism after a brief pause in the global rally. Nvidia also shines, while Asia cools and Europe braces for a cautious start.

Markets are smiling again, powered by the strength of the tech heavyweights. U.S. stock futures climbed on Friday, buoyed by upbeat results from Amazon and Apple, which have revived investor sentiment after a short break in the global market rally. S&P 500 futures rose 0.6%, while Nasdaq 100 futures gained more than 1%, reversing Thursday’s losses driven by weakness in big-cap technology stocks.

In after-hours trading, Apple surprised investors by beating revenue forecasts and offering an optimistic outlook for the holiday season. Amazon jumped 13%, marking the fastest growth in its cloud division in three years — a clear sign of the key role artificial intelligence now plays in the company’s strategy. Nvidia added to the positive tone, announcing new AI partnerships with major South Korean firms.

Asian markets ended mixed after erasing early gains: Japan’s Nikkei 225 surged 2.1% to an all-time high, while mainland Chinese and Hong Kong indexes slipped more than 1%. In Europe, futures pointed to a softer open, as investors weighed the latest round of global tech enthusiasm.

In commodities, gold fell 0.4%, marking its fourth decline in five sessions. U.S. Treasury yields and the dollar index were steady, while the Japanese yen strengthened after Tokyo inflation accelerated and the government pledged to “urgently monitor” currency movements.

The post-market rally in Apple and Amazon offered investors some relief after Thursday’s tech selloff, when megacap stocks were hit hard — Microsoft fell on disappointing results, and Nvidia retreated after former president Donald Trump said he hadn’t discussed approval for Blackwell chip sales to China with Xi Jinping.

Despite lingering doubts over the sustainability of massive AI-related investments, investor appetite for the sector remains strong. Meta Platforms saw record demand for its $30 billion bond issue, signaling that markets are still betting on the tech rally — one that has added over $17 trillion in market value since April.

The big names of Silicon Valley are all-in on a future powered by AI and vast data centers, but the enormous costs are beginning to test Wall Street’s patience. Asia, which has outperformed most global markets this year thanks to the AI boom, is now showing signs of fatigue. Analysts warn that while the tech frenzy has fueled record highs, concentration risks and volatility could soon come back into focus.

Andrea Pelucchi