Stock Futures Rise on Earnings as Dollar Jumps: Markets Wrap

(Bloomberg) — US and European stock futures gained after strong earnings from Apple Inc. and Intel Corp. boosted sentiment, while the dollar also rose as traders brace for President Donald trump’s tariffs announcements on Saturday.

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The Euro Stoxx 50 futures rose 0.1%, while S&P 500 and Nasdaq 100 contracts climbed during Asian trading. The increases were aided by more US mega-cap earnings — robust results from the iPhone-maker lifted its shares in after-market trading. Intel also rose post-market after reporting better-than-projected fourth-quarter revenue.

The dollar rose against most of its Group-of-10 peers as Trump is poised to unleash his first wave of tariffs Saturday. Treasuries suffered losses, while oil jumped as Goldman Sachs Group Inc. warned that commodity markets are pricing in elevated odds that sanctions against Canadian imports will include crucial raw materials like crude.

In Asia, a gauge of the region’s shares halted a two-day gain, with SK Hynix Inc. and Samsung Electronics Co. falling in delayed reaction to the selling of AI stocks, as the nation’s markets reopened after Lunar New Year holidays. The former is a key supplier to Nvidia Corp., while Samsung’s pivotal chip division reported a smaller-than-expected profit. Markets in mainland China, Hong Kong and Taiwan remain closed.

“There is lot more” recalibration to come in the AI trades, Gareth Nicholson, chief investment officer at Nomura Singapore Ltd. told Bloomberg Television. “We will see more rotation and it makes us even more bullish, albeit we needed some steam to come out of the system to build a stronger momentum forward.”

Earnings for large tech companies still face heightened scrutiny after investors dumped AI-related stocks earlier this month. Nvidia shares rose Thursday but remained on track for their worst week since September. The Nasdaq 100 is also set to drop for the first week in three.

Despite this week’s selloff in technology stocks, Asian equities are on pace for their first monthly advance in four as concerns over Trump’s use of tariffs eased after he held back from imposing levies on China.

Samsung “missed consensus, mainly from the semiconductor division,” said SK Kim, Daiwa Securities executive director and analyst, speaking on Bloomberg Television. “In semiconductors, Samsung has higher exposure to China and they are also supplying the AI chips to Chinese customers.”

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