Futures Gain as Markets Cheer Alphabet Results; Economic Data Awaited

Investors saw gains in futures on Friday as markets reacted positively to the better-than-expected results from Alphabet, the parent company of Google. The tech giant reported a 34% increase in revenue for the first quarter, exceeding Wall Street’s expectations.

The positive earnings from Alphabet helped to boost sentiment in the markets, with futures pointing to a higher open on Wall Street. The Nasdaq futures were up 0.5%, while the S&P 500 and Dow futures also showed gains.

Investors were particularly pleased with Alphabet’s strong performance in its cloud computing and YouTube advertising businesses. The company’s revenue from cloud services jumped 46% year-over-year, while YouTube ad revenue grew 49%.

The upbeat results from Alphabet come as investors eagerly await the latest economic data, including the April jobs report, which will be released later in the day. The report is expected to show a strong rebound in hiring as the U.S. economy continues to recover from the impact of the pandemic.

Overall, the positive earnings from Alphabet and the anticipation of strong economic data have helped to lift investor confidence and push futures higher. Market participants will be closely watching the economic reports throughout the day for further clues on the state of the economy and the trajectory of the markets.