Big Tech Earnings, Fed Rate Decision Nudge US Equity Futures Higher Pre-Bell

-- US equity futures were higher pre-bell Thursday as traders absorbed the latest round of financial results, including those of big tech, amid the Federal Open Market Committee maintaining its target rate.

Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.5% lower.

Alphabet (GOOG, GOOGL), Amazon (AMZN), and Meta Platforms (META) all reported higher earnings and revenue for Q1, while Microsoft (MSFT) posted an increase in fiscal Q3 adjusted earnings and revenue. Apple (AAPL) is expected to publish its fiscal Q2 financial results after-market.

The Federal Open Market Committee maintained the target range for its federal funds rate at 3.50% to 3.75%, as expected, but the level of dissent was reportedly the highest since 1992, with four officials dissenting.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.5% at $108.81 per barrel and US West Texas Intermediate crude 2.4% lower at $104.30 per barrel.

The March core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.3%, compared with the prior month's gain of 0.4%, according to estimates compiled by Bloomberg.

Initial jobless claims are projected to have declined to 212,000 in the week ended April 25 from 214,000 in the prior week. The advance estimate for Q1 GDP is seen coming in at 2.3%, up from 0.5% in the previous quarter.

Cantor Fitzgerald Adjusts Price Target on eBay to $110 From $100

eBay (EBAY) has an average rating of hold and mean price target of $105.25, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $97.97, Change: $-5.82, Percent Change: -5.61%

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Canada's Economy Remains on "Shaky Grounds" Based On GDP, While Payroll Data "Paint An Even More Fragile Picture", Says Desjardins

Today's GDP data showed Canada's economy remained on "shaky ground" through the first quarter of 2026, while today's payroll data "paint an even more fragile picture" of the economy, said Royce Mendes over at Desjardins.While Canadian gross domestic product advanced 0.2% month over month in February, in line with consensus, growth tailed off in March, while Statistics Canada's flash estimate points to a flat reading for the final month of Q1. Both the Desjardins quarterly estimate for GDP by expenditure and GDP by industry are tracking an annualized advance of roughly 1.5%, which is consistent with the Bank of Canada's most recent projection, Mendes noted.Given the weak handoff, Desjardins agrees with the central bank's forecast for another quarter of roughly 1.5% growth in Q2, he said.The Survey of Employment, Payrolls and Hours Payroll (SEPH) data, also released Thursday, showed the economy shed 60,000 jobs in February, more than reversing the increase of 44,000 positions in January.Weakness was relatively broad-based across categories, with losses seen in both trade-exposed and non-trade-exposed sectors. In the past few months, Ontario and Quebec have led the way lower, Mendes noted."The GDP and payroll data released today are consistent with an economy unlikely to produce excess inflationary pressures," Mendes said, before adding: "Should oil prices decline in the coming months, the Bank of Canada can remain on the sidelines, confident that the temporary effects of higher oil prices will not generate a sustained period of high inflation."

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Hubbell Q1 Adjusted Earnings, Net Sales Increase

Hubbell (HUBB) reported Q1 adjusted earnings Thursday of $3.93 per diluted share, up from $3.38 a year earlier.Analysts surveyed by FactSet expected $3.87.Net sales for the quarter ended March 31 were $1.52 billion, up from $1.37 billion a year earlier.Analysts surveyed by FactSet expected $1.50 billion.For 2026, the company said it expects adjusted EPS of $19.30 to $19.85. Analysts polled by FactSet expect $19.71.Shares of the company fell 7% in recent premarket activity.Price: $507.60, Change: $-38.33, Percent Change: -7.02%

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Cantor Fitzgerald Adjusts Price Target on eBay to $110 From $100

Canada's Economy Remains on "Shaky Grounds" Based On GDP, While Payroll Data "Paint An Even More Fragile Picture", Says Desjardins

Hubbell Q1 Adjusted Earnings, Net Sales Increase