After-market movers: Nasdaq 100 futures +1% as Microsoft, Meta surge on earnings

Tech-heavy Nasdaq 100 futures (US100:IND) climbed +1.3% after hours on Wednesday, buoyed by a post-earnings jump in tech titans Microsoft (NASDAQ:MSFT) and Meta Platforms (NASDAQ:META).

Benchmark S&P 500 futures (SPX) also rose, +0.7%, while Dow futures (INDU) lagged, -0.2%.

Shares of Microsoft (NASDAQ:MSFT) popped +9.1% in postmarket trading. The world’s second-largest publicly listed firm said sales from its Azure cloud computing business crossed $75B on an annual basis, the first time it has disclosed that figure.

Meanwhile, Meta’s (NASDAQ:META) class A shares were +11.7% after the Facebook-parent blew past quarterly top and bottom line expectations and further bumped up its annual capital expenditure guidance.

Other notable movers after hours include:

• Chip designer Qualcomm (QCOM) was -5.5%. The decline came despite the world’s biggest supplier of modem chips providing current quarter revenue and profit guidance that exceeded estimates.
• Class A shares of Confluent (CFLT) cartered -27.2%, after the data streaming platform provider flagged a hit to its cloud business in the current quarter and for the second half of the year.
• Carvana (CVNA) stock was +16.5% after the used car retailer delivered record quarterly retail unit sales and revenue.
• eBay (EBAY) added +10.1% after the e-commerce major reported robust quarterly results and provided an upbeat forecast.

Wall Street had earlier closed mixed in the regular trading session, recouping losses in the last fifteen minutes before the closing bell. Federal Reserve chair Jerome Powell rattled investors by signaling that the central bank was in no hurry to cut interest rates.