-- US equity markets were mostly pointing higher before the opening bell Thursday as investors digest the latest financial results from some of the biggest technology companies and await a key inflation report.
The S&P 500 rose 0.1% and the Nasdaq added 0.2% in premarket activity, while the Dow Jones Industrial Average declined 0.2%. The indexes finished the previous trading session mixed.
Shares of Meta Platforms (META) fell 8.8% pre-bell after the Facebook parent lifted its full-year capital expenditure guidance mainly due to higher component pricing, even though it reported stronger-than-expected first-quarter results. Microsoft (MSFT) decreased 1.8% as the tech giant said its capital expenditures will be about $190 billion in 2026, while its fiscal third-quarter results topped market estimates.
"It's crystal clear to us that the (artificial intelligence) revolution is accelerating at a warp speed pace with 2026 being an inflection point year for AI with hyperscalers now investing over $700 billion in (capital expenditures) in (2026) to capitalize on the opportunities in the space," Wedbush Securities said in a Thursday client note.
Alphabet's (GOOG, GOOGL) class A and C shares climbed more than 6% each amid upbeat first-quarter results. Amazon (AMZN) inclined 2.5% as the e-commerce giant issued a strong second-quarter revenue outlook.
iPhone maker Apple (AAPL) is scheduled to release its quarterly earnings after the markets close. Eli Lilly (LLY), Mastercard (MA), Caterpillar (CAT), Merck (MRK), Royal Caribbean Cruises (RCL) and Hershey (HSY) are slated to announce their results before the bell, among others.
The personal income and outlays report for March is due to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.
The central bank's Federal Open Market Committee left its benchmark interest rate unchanged on Wednesday as policymakers saw the Middle East conflict fueling uncertainty around the US economic outlook. In a post-meeting press conference, Jerome Powell said he will stay on as a Fed governor for an indefinite period after his term as Fed chief expires on May 15.
The US Senate Banking Committee on Wednesday voted to advance Kevin Warsh's nomination as Fed chair to the Republican-controlled Senate.
Treasury yields were down in premarket action, with the two-year rate retreating 3.2 basis points to 3.9% and the 10-year rate off 1.8 basis points to 4.4%.
President Donald Trump is expected to receive a briefing on fresh potential military options against Iran on Thursday, Axios reported, citing two sources with knowledge. Trump recently told the news outlet that he will maintain the US naval blockade of Iranian ports until Tehran agrees to a nuclear deal.
West Texas Intermediate crude oil slipped 0.2% to $106.62 a barrel before the open, while Brent decreased 1.6% to $116.20.
Thursday's economic calendar also has the initial estimate report for the first-quarter gross domestic product at 8:30 am, along with the weekly jobless claims bulletin. The Chicago purchasing managers' index for April posts at 9:45 am.
Gold rose 1.8% to $4,642 per troy ounce, while bitcoin moved 0.7% higher to $75,974.